The Promissory Note Secured By Real Property is a specialized financial instrument used in Nigerian lending transactions where real property serves as collateral for a debt obligation. This document is particularly useful in situations requiring a formal debt instrument with strong security backing, commonly used in both commercial and private lending scenarios. It must comply with Nigerian federal and state laws, including the Bills of Exchange Act, Land Use Act, and relevant property registration requirements. The document includes detailed payment obligations, property descriptions, security creation, and enforcement mechanisms. It's typically used in mortgage lending, commercial property financing, and other secured lending transactions where the lender requires both a negotiable debt instrument and a security interest in real property. The document provides protection for lenders while giving borrowers access to financing using their property assets as security.
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the Maker (borrower/property owner) and Payee (lender), including full legal names and addresses
2. Background: Brief context of the loan arrangement and security agreement
3. Definitions: Key terms used throughout the document, including 'Property', 'Security Interest', 'Event of Default', etc.
4. Promise to Pay: Unconditional promise to pay a specific sum, with interest rate and payment schedule
5. Interest Rate and Calculations: Detailed specification of interest rate, calculation method, and compound periods
6. Payment Terms: Schedule of payments, payment methods, and allocation of payments between principal and interest
7. Security Interest: Creation and terms of the security interest in the real property
8. Property Description: Legal description of the real property serving as security
9. Representations and Warranties: Maker's declarations regarding property ownership, authority to pledge, and absence of other encumbrances
10. Events of Default: Circumstances constituting default and triggering enforcement rights
11. Remedies: Payee's rights and remedies upon default, including property enforcement
12. Notice Requirements: Process and requirements for serving notices between parties
13. Governing Law: Specification of Nigerian law as governing law and jurisdiction
1. Prepayment Terms: Include when early payment is allowed, specifying any penalties or conditions
2. Insurance Requirements: Include when specific insurance coverage for the property is required
3. Property Maintenance Obligations: Include when specific requirements for maintaining the property value are needed
4. Assignment and Transfer: Include when the note is intended to be negotiable or transferable
5. Late Payment Penalties: Include when specific penalties for late payments are to be imposed
6. Tax Provisions: Include when specific arrangements regarding property taxes are required
7. Cross-Default Provisions: Include when the note is part of a larger financing arrangement
8. Force Majeure: Include when specific circumstances excusing performance need to be addressed
1. Schedule A - Property Details: Detailed legal description of the property, including survey details and title information
2. Schedule B - Payment Schedule: Detailed amortization schedule showing payment dates and breakdowns
3. Schedule C - Insurance Requirements: Specific insurance requirements and minimum coverage amounts
4. Appendix 1 - Property Title Documents: Copies of relevant property title documents and certificates
5. Appendix 2 - Property Valuation Report: Recent professional valuation report of the security property
6. Appendix 3 - Property Photos and Plans: Current photographs and architectural plans of the property
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking
Real Estate
Financial Services
Construction
Property Development
Agriculture
Industrial
Commercial Property
Residential Property
Mortgage Services
Relevant Teams
Legal
Finance
Risk Management
Real Estate
Compliance
Credit Administration
Property Management
Corporate Banking
Mortgage Services
Document Management
Relevant Roles
Legal Counsel
Property Lawyer
Finance Manager
Credit Risk Officer
Real Estate Manager
Mortgage Officer
Loan Officer
Compliance Officer
Property Rights Manager
Security Documentation Specialist
Corporate Lawyer
Banking Executive
Real Estate Developer
Property Investment Manager
Find the exact document you need
Demand Letter For Payment Of Promissory Note
A formal demand letter under Nigerian law requesting payment of an outstanding promissory note, including payment terms and legal consequences of non-payment.
find out more
Bill Of Sale And Promissory Note Auto
A Nigerian law-governed document combining vehicle sale agreement and financing terms through a combined Bill of Sale and Promissory Note structure.
find out more
Iou Promissory Note
A Nigerian law-governed written promise to pay a specified sum of money, containing payment terms and complying with local legal requirements.
find out more
Short Promissory Note
A legally binding document under Nigerian law where one party promises to pay a specified sum of money to another party at a determined time.
find out more
Promissory Note For Payment
A legally binding financial instrument under Nigerian law where one party promises to pay a specific sum of money to another party on specified terms.
find out more
Promissory Note For Tuition
A legal document under Nigerian law establishing a formal promise to pay educational tuition fees, including payment terms and obligations.
find out more
Promissory Note For Rental Agreement
A Nigerian law-governed financial instrument that provides a tenant's legally binding promise to pay specific rental amounts to a landlord, serving as both payment guarantee and negotiable instrument.
find out more
Promissory Note For Late Payment
A Nigerian law-compliant financial instrument that acknowledges existing debt and establishes new payment terms for overdue amounts, providing legal enforceability and payment structure.
find out more
Promissory Note To Pay Rent
A Nigerian legal document establishing a tenant's formal promise to pay rent, combining promissory note requirements with rental agreement principles.
find out more
Auto Promissory Note
A Nigerian law-governed financial instrument combining a promissory note with vehicle security provisions, used for automotive financing transactions.
find out more
Guarantor Promissory Note
A Nigerian law-governed financial instrument combining a promissory note with a guarantee agreement, establishing debt payment obligations with guarantor backing.
find out more
Promissory Note For Services Rendered
A Nigerian law-governed financial instrument documenting a promise to pay for services already rendered, including payment terms and service acknowledgment.
find out more
Promissory Letter For Work
A legally binding document under Nigerian law that commits one party to pay another for specified work or services to be performed.
find out more
Cash Promissory Note
A Nigerian law-governed financial instrument containing an unconditional promise to pay a specified sum of money, either on demand or at a specified future date.
find out more
International Promissory Note
A Nigerian law-governed promissory note for international transactions, containing an unconditional promise to pay a specified sum with defined payment terms.
find out more
Simple Promissory Note For Personal Loan
A Nigerian law-governed promissory note documenting a personal loan agreement, including loan amount, payment terms, and parties' obligations.
find out more
Trust Deed And Note
A Nigerian law-governed document establishing a trust structure combined with note issuance terms, defining rights and obligations of trustees, beneficiaries, and noteholders.
find out more
Promissory Note With Notary
A legally binding, notarized financial instrument under Nigerian law containing an unconditional promise to pay a specified sum of money to a named recipient.
find out more
Promissory Note For Tuition Fee With Partial Payment
A Nigerian law-compliant promissory note documenting a student's commitment to pay remaining tuition fees through structured installments after initial partial payment.
find out more
Promise Promissory Note For Hospital Bill
A legally binding promissory note under Nigerian law that documents a patient's formal promise to pay for medical services received from a healthcare facility.
find out more
Note Trust Deed
A Nigerian law-governed document establishing the terms of notes issuance and appointing a trustee to protect noteholders' interests.
find out more
Hospital Bill Promissory Note
A Nigerian legal document establishing a patient's formal promise to pay outstanding medical bills to a healthcare provider, compliant with local financial and healthcare regulations.
find out more
Bank Promissory Note
A Nigerian law-governed financial instrument where a bank promises to pay a specified sum to a designated party, subject to Central Bank of Nigeria regulations.
find out more
Promissory Note With Personal Guarantee
A Nigerian law-governed financial instrument combining a promise to pay a specified sum with a personal guarantee, providing dual recourse for creditors.
find out more
Promissory Note With Collateral
A Nigerian law-governed financial instrument combining a promise to pay with collateral security, providing a secured lending framework under Nigerian financial regulations.
find out more
Promissory Note Mortgage
A Nigerian law-governed security instrument combining a promissory note with a mortgage over real property, requiring land registry registration and Governor's consent.
find out more
Promissory Note Installment Payments
A Nigerian law-governed financial instrument documenting a promise to pay a specified sum through scheduled installment payments.
find out more
Payable On Demand Promissory Note
A Nigerian law-governed financial instrument containing an unconditional promise to pay a specified sum on demand to a named payee.
find out more
Loan Note Agreement
A Nigerian law-governed agreement documenting loan terms and conditions between lender and borrower, including repayment and security provisions.
find out more
Lender Promissory Note
A Nigerian law-governed financial instrument documenting a borrower's unconditional promise to repay a specified sum to a lender under defined terms.
find out more
Promissory Note For Business Purchase
A Nigerian law-governed promissory note documenting a buyer's formal promise to pay for a business purchase, including payment terms and security arrangements.
find out more
Joint And Several Promissory Note
A Nigerian law-governed financial instrument where multiple parties jointly and individually promise to repay a specified sum to a payee, with each party being liable for the full amount.
find out more
Unsecured Demand Promissory Note
A Nigerian law-governed financial instrument containing an unconditional promise to pay a specified sum on demand, without security backing.
find out more
Letter Of Promissory Note For Tuition Fee
A Nigerian law-governed promissory note establishing a legally binding commitment to pay specified educational tuition fees to an institution.
find out more
Short Term Unsecured Promissory Note
A Nigerian law-governed financial instrument containing an unconditional promise to pay a specified sum without collateral, typically used for short-term financing needs.
find out more
Promissory Note Secured By Real Property
A Nigerian law-governed instrument combining a promissory note with real property security, establishing debt repayment terms and property collateral arrangements.
find out more
Promissory Note For Land Purchase
A Nigerian legal document combining a formal promise to pay for land purchase with essential property transaction elements under Nigerian law.
find out more
Compound Interest Promissory Note
A Nigerian law-governed promissory note documenting repayment of funds with compound interest, including payment terms and enforcement mechanisms.
find out more
90 Day Promissory Note
A Nigerian law-governed financial instrument containing an unconditional promise to pay a specified sum within 90 days.
find out more
Pledge Note
A Nigerian law-governed security document creating and evidencing a pledge of assets as security for obligations, commonly used in banking and commercial transactions.
find out more
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)