Legal Question in Business Law in Texas
Recording a loan
I made a 0% interest loan to a person to buy a vehicle. The vehicle purchased is designated as the collateral for the loan. I generated forms for a General Security Agreement, Promissory Note and Receipt of cash which were all signed and witnessed by legal adults. Do I need to have these documents notarized? Do I need to ''record'' these documents in an office of the state or city, and if so how do I do this? Thank you.
Asked on 5/21/02, 1:15 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Recording a loan
They don't have to be notarized. Check with the Commissioner of Motor Vehicles to find out how your lienholder interest gets onto the duplicate title.
Answered on 5/21/02, 1:51 pm
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