What you need to know about
An affidavit of lost not is a document in which a person legally swears that a lending document has been misplaced.
- Creating a legal document showing that a promissory note has been lost
- Proving the existence of a loan when the original promissory note has been lost or destroyed.
Affidavits are very common legal documents, and anyone who finds themselves in court for any reason may be required to execute one. An affidavit is a written statement of facts that the author has sworn are true under penalty of law. If you ever make an official statement to a court, law enforcement officer, or other legal official, you may be required to swear to the truth of that statement in an affidavit.
An affidavit must be signed by the person swearing to the truth of the statements before a witness, typically a notary, in order to become official. An affidavit of lost note is a legal document that swears that one or more parties to a lending transaction have lost the promissory note officially recording the transaction. Regardless of whether the loss was due to theft, fraud, negligence, or mere mistake, and affidavit of lost note should be included in the record of any financial transaction in which these important documents were lost. The affidavit of lost note should include specific information that adequately describes the lost documents. The author of the affidavit is expected to also provide whatever evidence he or she has regarding the content of the lost note. By using this interactive form, individuals involved in lending transactions where the original promissory notes have been misplaced can start the legal process of creating substitute documentation.
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Affidavit of Lost Note
The undersigned hereby delivers this Affidavit of Lost Note (this “Affidavit”) and declares as follows:
- The undersigned, ___________________ (the “Borrower”), has knowledge of the facts stated herein.
- _______________ (“Lender”) is the lawful holder of that certain ________________ Promissory Note dated ______________, 20____ in the original principal amount of $__________ executed by the Borrower in favor of Lender (the “Note”).
- The Note has been lost, stolen or destroyed.
- The Note has not been endorsed, pledged, sold, transferred, negotiated or assigned to any person or entity. The Note has not been pledged for any bank or brokerage loan or otherwise, or disposed of in any manner by the undersigned. The undersigned has not signed any power of attorney or other assignment or authorization respecting the Note which are now outstanding or in force.
- The undersigned and its assigns, shall at all times indemnify and hold harmless the Company, its affiliates, directors, officers, employees or agents and any person acting on behalf of or at the request of the Company or its affiliates, together with any successors and assigns of any of the foregoing, from and against any and all claims, actions and suits, whether groundless or otherwise, and from and against any and all losses, damages, judgments, costs, counsel fees, expenses and liabilities whatsoever, which any of such indemnitees at any time shall or may sustain or incur (a) by reason of any claim which may be made in respect of the Note, and (b) by reason of payment for or transfer, exchange or delivery of the Note.
- If the Note is found after the date of this Affidavit, Affiant will immediately cause such Note to be surrendered to Lender.
The foregoing Affidavit was acknowledged before me this ____ day of ___________, 20___.
Affidavit of Lost Note Checklist
Make It Legal™
Find out next steps for your document.
___Review Carefully. Look over the document carefully to ensure it matches your intentions. It is legally binding.
___Sign the Affidavit. This document needs to be signed by the Borrower in the presence of a notary public.
___Distribute Copies. Fully executed and compiled copies of this document should be provided to both Borrower and Lender.
Disclaimer: It is strongly advised to have your document reviewed or advised on by an attorney before entering into a legal relationship with another party. To speak with a lawyer about this document or any other legal need, please visit LawTrades.com.