QUESTION
Do I have any ownership of the promissory note?
Asked on Mar 04th, 2013 on Estate Planning - Michigan
More details to this question:
If I signed a promissory note as the lender and it was written up as: LENDER: my name then after that it says "for the benefit of" and then my partner’s name. All signatures on the note are signed in that manner and never as just my name, only as stated above.
7 ANSWERS
I would need to look at the note to give a good opinion. But, if all of the money came from you, you should be OK.
Answered on Apr 01st, 2013 at 3:05 AM
You have bad document. The law would look to who actually loaned the money.
Answered on Mar 06th, 2013 at 10:35 PM
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Probably not, but it is best to have the actual document reviewed by an attorney.
Answered on Mar 06th, 2013 at 9:58 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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It sounds you are the agent for a principle and if so no you are not the owner.
Answered on Mar 06th, 2013 at 8:57 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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I cannot figure out what you are asking. There is generally no "ownership" of a note. It does not have title. There is an obligatory and an oblige. Which one of those people you are and what your partner's role is in this is not clear.
Answered on Mar 06th, 2013 at 8:55 PM
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Much more information is needed to answer your question. Contact an attorney. Generally you can find an attorney who will briefly discuss your issue directly with you at no charge.
Answered on Mar 06th, 2013 at 8:36 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Probably not but its hard to say without reviewing the actual document.
Answered on Mar 06th, 2013 at 8:32 PM