The acknowledgement is the section at the end of a document where a notary public verifies that the signer of the document states he/she actually signed it. Typical language is: "State of ______, County of ______ (signed and sealed) On ____, 20__, before me, a notary public for said state, personally appeared _______, personally known to me, or proved to be said person by proper proof, and acknowledged that he executed the above Deed." Then the notary signs the acknowledgment and puts on his/her seal, which is usually a rubber stamp, although some still use a metal seal. The person acknowledging that he/she signed must be prepared to verify their identity with a driver's license or other accepted form of identification, and must sign the notary's journal. The acknowledgment is required for many official forms and vital for any document which must be recorded by the County Recorder or Recorder of Deeds, including deeds, deeds of trust, mortgages, powers of attorney that may involve real estate, some leases and various other papers.
Acknowledgments may also be drafted to affirm a variety of matters, acting in effect as a written confirmation of an act such as receipt of goods, services, or payment.
A Hawaii Promissory Note with Acknowledgment is a legally binding document that outlines the terms and conditions of a loan or debt agreement between two parties in the state of Hawaii. This document serves as evidence of the borrower's promise to repay the lender the agreed-upon amount within a specific timeframe. The Promissory Note includes crucial details such as the names and contact information of both the borrower and lender, the principal amount borrowed, the interest rate (if applicable), the repayment schedule, and any penalties for late payments or defaulting on the loan. Additionally, the note specifies the collateral, if any, that the borrower is offering to secure the loan. It is worth noting that there are variations of the Hawaii Promissory Note with Acknowledgment tailored for different types of loans or situations. Here are some examples: 1. Hawaii Real Estate Promissory Note — With Acknowledgment: This type of promissory note is specifically designed for real estate transactions in Hawaii. It includes additional provisions related to the property being used as collateral. 2. Hawaii Personal Loan Promissory Note — With Acknowledgment: This type of promissory note is used for personal loans between individuals in Hawaii. It is commonly used for loans between family members or friends but can also be used for small business loans. 3. Hawaii Student Loan Promissory Note — With Acknowledgment: This promissory note is designed for student loans in Hawaii. It includes specific clauses related to educational expenses, deferment options, and repayment plans tailored to student borrowers. 4. Hawaii Business Loan Promissory Note — With Acknowledgment: This type of promissory note is intended for business loans in Hawaii. It may include provisions related to the use of funds, expected business performance, and the responsibilities of both the borrower and lender. In all cases, the Hawaii Promissory Note with Acknowledgment provides legal protection to both the borrower and lender by clearly outlining the loan's terms and ensuring that both parties understand their rights and responsibilities. It is essential to consult with a legal professional when drafting or using such agreements to ensure compliance with Hawaii state laws and regulations.
