A Texas secured promissory note is a document the details a personal loan secured by collateral that the borrower pledges in the event of the loan’s default. The note establishes the terms of the loan’s repayment, including the amount of the loan, the rate of interest, the payment schedule, and the conditions under which the loan can default and the collateral must be transferred to the lender. The document should also provide a description of the collateral, along with any identifying numbers or ownership documentation.

Related Forms

Unsecured Promissory Note – A promissory note with no collateral.

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