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Release of Promissory Note Form Overall rating: ★★★★☆ 4 based on 1 reviews
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Release of Promissory Note Form is devised to annul the promissory note previously signed by the borrower upon the full and final settlement of the principal loan amount and interest as applicable. This document issued by the lender discharges the borrowers from obligations towards the loan repayment if any.


Notarization of the release form is not mandatory; however, doing so provides peace of mind and inhibits the claims if any. Signature of one neutral witness is required. Review the original promissory note to figure out any means of the termination of the same prescribed in it. It is necessary to carry out such mode in addition to the release form. Furnish particulars in every blank space offered in the form. The lender must sign and issue the Release of Promissory Note Form only upon the receipt of the payment towards full and final settlement of the principal loan and interest.


Before Commencing

  • Read the promissory note carefully for any procedural action necessary for the release.
  • Furnish all details carefully for the legal standing of the Release of Promissory Note Form.
  • Signature of neutral witness is necessary; however, notarization of the form limits the possibilities of claims if any.
  • The lender must acknowledge the full receipt of payment and sign the release form to discharge the obligations.
  • Furnish particulars pertaining to the previously signed promissory notes descriptively to quantify the Release of Promissory Note Form and its contents.

Begin by providing the names and addresses of the borrower/s and lender/s. Specify particulars of each party involved in the transaction and use a separate line for each person. All the names and addresses of the parties signing and executing the promissory note must appear in the Release of Promissory Note Form. Specify the roles of the parties as borrower/s and lender/s by providing the name/s in the appropriate spaces.

In the next section, the lender acknowledges the receipt of the full and final payment towards the promissory note. Specify the date of issuance of the promissory note followed by the amount of the principal loan amount and accrued interest in words and figure. The lender further releases the borrower from obligations of all sorts by signing the release form.

The last portion of the release form has space reserved for furnishing the date of issuance of the release form followed by the space provided for the lender’s signature. Insert the date and the lender/s must sign in the space allocated for the same. The witness must sign in conformity to the lender signing the release form.

Release of Promissory Note Form

Text Version of this Form

Full Names _______________________________________________
Address__________________________________________________

Full Names _______________________________________________
Address__________________________________________________
(Hereinafter referred to as the Borrower/s)

Full Names _______________________________________________
Address__________________________________________________
(Hereinafter referred to as the Lender)

The Lender hereby acknowledges receipt of the full payment of the Promissory Note dated ______________________20____ in the principal loan amount of __________________ Dollars ($_________) as well as receipt of full payment of any interest accrued.

The Lender therefore releases the Borrower(s) from all obligations under this Note and this release shall be binding upon the Lender’s successors, legal representatives and assigns.

The Lender warrants that the Note referenced has not been assigned, ceded, transferred or sold to a third party and warrants his/her authority as Noteholder to issue this Promissory Note Release.

Signed on this _______day of _____________________20______.

____________________________________
Lender

____________________________________
Witness

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