Loan Agreement With Notary for the United States

Loan Agreement With Notary Template for United States

A Loan Agreement With Notary is a legally binding document used in the United States that formalizes a lending arrangement between two parties, with the added security of notarization. The agreement details the loan amount, interest rate, repayment terms, and consequences of default, while the notary's presence and certification helps prevent fraud and ensures the authenticity of the signatures. This document is governed by both federal and state-specific lending laws, including the Truth in Lending Act and applicable usury laws.

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What is a Loan Agreement With Notary?

The Loan Agreement With Notary serves as a crucial legal instrument in U.S. lending transactions, providing enhanced security and authenticity through notarization. This document is essential when parties require a formal, witnessed record of their lending arrangement, particularly for significant loan amounts or when additional verification is desired. The agreement includes comprehensive details about the loan terms, repayment schedule, default provisions, and any collateral arrangements, while complying with federal and state-specific lending regulations. The notarization process helps prevent fraud and ensures the document's admissibility in court proceedings.

What sections should be included in a Loan Agreement With Notary?

1. Parties: Identifies lender and borrower with full legal names and addresses

2. Background: Explains context and purpose of the loan

3. Definitions: Defines key terms used throughout the agreement

4. Loan Amount and Terms: Specifies principal amount, interest rate, and repayment terms

5. Repayment Schedule: Details payment dates, amounts, and methods

6. Default Provisions: Defines events of default and consequences

7. Representations and Warranties: Statements of fact by borrower regarding their situation

8. Governing Law: Specifies the jurisdiction and applicable laws governing the agreement

9. Notices: Details how formal communications between parties should be made

10. Signature Page: Space for parties' signatures and notary acknowledgment

What sections are optional to include in a Loan Agreement With Notary?

1. Security Interest: Details of collateral if loan is secured - include for secured loans only

2. Guarantor Provisions: Terms applying to any guarantors - include when loan has third-party guarantors

3. Insurance Requirements: Required insurance coverage for collateral - include for secured loans with valuable collateral

4. Prepayment Provisions: Terms regarding early repayment of the loan - include if early repayment is allowed or restricted

5. Interest Rate Adjustment: Terms for variable interest rate changes - include for variable rate loans only

What schedules should be included in a Loan Agreement With Notary?

1. Schedule A - Repayment Schedule: Detailed amortization table showing payment dates and amounts

2. Schedule B - Collateral Description: Detailed description of security/collateral if applicable

3. Appendix A - Truth in Lending Disclosures: Required federal disclosures about loan terms and costs

4. Appendix B - Notary Certificate: Standard notary acknowledgment form

5. Appendix C - State-Specific Disclosures: Any additional disclosures required by state law

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Industries

Truth in Lending Act (TILA): Federal law requiring uniform disclosure of credit terms and costs to protect consumers in credit transactions

Equal Credit Opportunity Act (ECOA): Federal law prohibiting discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or public assistance status

Fair Credit Reporting Act (FCRA): Federal law regulating the collection, dissemination, and use of consumer credit information

Regulation Z: Federal Reserve Board regulation implementing TILA and setting standards for disclosure of loan terms

Dodd-Frank Act: Comprehensive financial reform legislation affecting lending practices and consumer protection in financial transactions

State Usury Laws: State-specific regulations setting maximum legal interest rates and terms for loans

State Notary Laws: State-specific requirements governing notary procedures, qualifications, and documentation standards

State Consumer Protection Laws: State-specific regulations protecting consumers in financial transactions and lending agreements

UCC Article 3: Uniform Commercial Code article governing negotiable instruments, including promissory notes

UCC Article 9: Uniform Commercial Code article governing secured transactions and security interests in personal property

Statute of Frauds: Legal requirement that certain contracts, including some loan agreements, must be in writing to be enforceable

Property Laws: Laws governing real and personal property rights, particularly relevant for secured loans

Security Interest Regulations: Laws governing the creation, perfection, and enforcement of security interests in collateral

Recording Requirements: Legal requirements for recording loans and security interests in public records

Statute of Limitations: Time limits for bringing legal actions related to loan agreements and defaults

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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