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unsecured promissory note (1 viewing) (1) Guest
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TOPIC: unsecured promissory note
#6323
shalitique (User)
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unsecured promissory note 1 Year, 6 Months ago Karma: 0  
If a promissory note is unsecured and the payee is a business, can the Maker still lien the business if there is no real estate, only inventory? Seems like if the note is unsecured and there are no assets to attach to then the note is worthless. trust>?
 
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Sumo (User)
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Re:unsecured promissory note 1 Year, 6 Months ago Karma: 5  
If the promissory note is unsecured, then the holder of the promissory note has no recourse against the maker and can not lien the real property unless the maker sues on the note and gets a judgement lien.
 
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#6348
great1 (User)
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Re:unsecured promissory note 1 Year, 6 Months ago Karma: 0  
The holder of the unsecured promissory note can always file a UCC lien on the business personal property. I thinks thats his best bet to collateralizing the note.
 
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