Promissory Note in Ohio

Ohio Requirements

• 8% general usury cap, with broad business/commercial exemptions up to 25%
• Cognovit notes valid only for business purposes; statutory warning required
• Identify maker, payee, principal, rate, payment terms, and default provisions
• Statute of limitations: 8 years on written contracts (R.C. § 2305.06; reduced from 15 in 2012)
• Documentary fee tax does not apply to notes; mortgages are subject to recording fees

How to Complete This Form

1. 1Obtain a blank quitclaim deed form that complies with your state's requirements.
2. 2Enter the full legal name and address of the grantor (the person transferring the property).
3. 3Enter the full legal name and address of the grantee (the person receiving the property).
4. 4Include the complete legal description of the property (obtained from the current deed or county records).
5. 5Sign the deed in the presence of a notary public and any required witnesses.
6. 6File the deed with the county recorder's office along with any required transfer tax forms and fees.
7. 7Keep a copy of the recorded deed for your records.

Promissory Note in Other States

Other Forms in Ohio