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Promissory Notes – Notice of Payment
For the Promissory Note (PN) process from the purchased Module, in the Notice of Payment:
2.1 If the payee is a private lending institution (e.g. personal loan with private home loan company where the property is security for loan (home loan paid off but account still open), when dealing with them and not a bank, are the following statements in this notice still applicable for private lenders:
“The Promissory Notes are tendered in good faith despite being uncertain that the bank is in fact the creditor to any loan or advance.” and
“To confirm our obligations to the bank, we seek proof the bank is in fact the creditor to any alleged loan or advance to the Trustees, <Name> Pty Ltd and <Name2> Pty Ltd. To this end, we direct you to present us with an opportunity within seven days of the date of this notice an opportunity to examine the original bona fide wet ink signature completed loan applications to the above alleged loan accounts at any nearby local branch office to us so we can confirm that the bank is indeed the creditor to its claimed loans or advances. We are eager to confirm the bank as the creditor the three loans or advances pursuant to the above disclosed loan accounts.”
2.2 When signing the notice of payment at the bottom of page, if you don’t have a property trust, does the statement ‘Administrator and Executor for estate “John Mark Doe”‘ need to be changed? If yes, to what?
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2 Replies
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There is a Q and A on Wednesday where you can ask these questions…https://solutionsempowerment.org/event/general-qa-september-13/
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Yes, I was going to ask them in that Q & A webinar if noone had answered them. Thanks.
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