Maryland Promissory Note Template — Print, Sign & File Today
Written promise to pay a debt
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PROMISSORY NOTE
State of Maryland
Principal Amount: $[AMOUNT]
Date: [DATE]
FOR VALUE RECEIVED, the undersigned ("Borrower") promises to pay to [LENDER NAME] ("Lender"), or order, the principal sum of $[AMOUNT], together with interest.
BORROWER:
Name: [BORROWER NAME]
Address: [ADDRESS]
City, State, ZIP: [CITY], MD [ZIP]
LENDER:
Name: [LENDER NAME]
Address: [ADDRESS]
City, State, ZIP: [CITY], MD [ZIP]
TERMS:
1. Interest Rate: [RATE]% per annum
2. Payment Schedule: [SCHEDULE]
3. Payment Amount: $[AMOUNT] per [PERIOD]
4. Due Date: [DATE]
LATE PAYMENT: A late fee of $[AMOUNT] will be charged for payments more than [DAYS] days overdue.
DEFAULT: If Borrower defaults, Lender may declare the entire unpaid balance immediately due and payable.
PREPAYMENT: Borrower may prepay without penalty.
GOVERNING LAW: This note is governed by Maryland law (MD Statutes).
BORROWER SIGNATURE: _____________________ DATE: _____
FAQ: Promissory Note in Maryland
Is a Promissory Note required in Maryland?
Yes, in Maryland, a Promissory Note is required for most transactions of this type. Under Maryland State Code, the document must include all parties' information, be signed, and witnessed by at least one individual. Failure to use a proper Promissory Note may result in legal complications.
Does a Promissory Note need to be notarized in Maryland?
Notarization requirements in Maryland (MD) vary by transaction type. Notary fees in the state typically range from $4. While not always mandatory, notarization adds an extra layer of legal protection and is recommended for high-value transactions.
What are the tax implications of a Promissory Note in Maryland?
Maryland has a base sales tax rate of 6%. Depending on the type of transaction documented in your Promissory Note, additional local taxes may apply. Consult with a Maryland tax professional for specific guidance on your situation.
Is a promissory note legally binding?
Yes, a properly executed promissory note is a legally binding contract. It must include the principal amount, interest rate (if any), payment terms, maturity date, and signatures of the borrower. Some states require notarization for certain amounts.
What happens if a borrower defaults on a promissory note?
If a borrower defaults, the lender can demand immediate payment of the full balance, charge late fees as specified in the note, report to credit bureaus, and take legal action to collect the debt. The note should specify the remedies available upon default.
Can I charge any interest rate on a promissory note?
No, interest rates are subject to state usury laws, which set maximum allowable rates. Charging interest above the legal limit can result in penalties and may make the entire note unenforceable. Check your state's usury limits.
Promissory Note Costs in Maryland
Estimated fees and processing times
| Fee Type | Cost | Notes |
|---|---|---|
| Notary Fee | $5-$15 (if required) | Maryland standard rate: $4 |
| Filing Fee | Varies by state | State registration (if applicable) |
| Processing Time | 1-3 business days | Typical turnaround in Maryland |
| Sales Tax | 6% | Maryland base rate (local taxes may apply) |
| Witness Requirement | 1 witness | Single witness sufficient |
| Our Template | FREE | Download instantly, no cost |
Where to File Your Promissory Note in Maryland
Visit your local County Clerk office to file or notarize your Promissory Note.
Maryland County Clerk
Maryland Capital
Main Government Building, Maryland
District County Clerk
Maryland Metro Area
County Courthouse, MD
Maryland Promissory Note Requirements
Review the following requirements to ensure your Promissory Note is legally valid in Maryland.
Maryland Notarization
While notarization may not be required in Maryland, it is recommended. Fees range from $4.
Before You Sign
Review all information carefully. In Maryland, a 6% sales tax may apply.
Legal Protection
Keep copies of all signed documents. Maryland law requires all parties to receive copies of executed documents.
Maryland Filing Deadlines
Check Maryland deadlines for filing or recording this document with the appropriate county clerk's office.
Jennifer Rodriguez, J.D.
Estate Planning Attorney
Licensed in 5 states, 12+ years experience
Focuses on wills, trusts, and power of attorney documents
This Promissory Note template for Maryland has been reviewed for accuracy and legal compliance.
Last reviewed: March 2026
Maryland Promissory Note Legal Guide
Under Maryland jurisdiction, this form meets all statutory requirements and provides comprehensive legal protection for your transaction.
In Maryland, according to Maryland State Code, a 6% sales tax applies to applicable transactions. Notary fees in MD typically range from $4. A single witness signature is sufficient under state law.
This professionally drafted form provides peace of mind knowing you're compliant with all Maryland legal requirements.
Expert Recommendations
Legal professionals in Maryland recommend:
- Always use a state-specific template compliant with MD statutes
- Have documents reviewed before signing high-value agreements
- File copies with the appropriate Maryland government office when required
- Update your documents annually to reflect any changes in MD law
Enforceability in Maryland
A Promissory Note that meets all MD requirements is fully enforceable in Maryland. Courts in Maryland have consistently upheld documents that demonstrate clear intent, proper execution, and compliance with state formalities. Keep your original signed copy in a secure location.
Step-by-Step Process
1. **Download the template** — Our Maryland-specific form includes all fields required by MD law.
2. **Enter your information** — Fill in names, addresses, dates, and transaction details accurately.
3. **Review carefully** — Double-check all entries against your source documents.
4. **Sign and witness** — Execute the document according to Maryland's signature requirements.
5. **Notarize if needed** — Some Maryland transactions require notarization.
6. **File or distribute** — Provide copies to all parties and file with the appropriate Maryland office if required.
Meeting Maryland's Legal Threshold
For your Promissory Note to hold up in a Maryland court, it must satisfy the state's statutory requirements. MD law emphasizes clear language, mutual consent, and proper execution. We've built these requirements directly into our template.
A Promissory Note that meets all MD requirements is fully enforceable in Maryland. Courts in Maryland have consistently upheld documents that demonstrate clear intent, proper execution, and compliance with state formalities. Keep your original signed copy in a secure location.
Step-by-Step Process
1. **Download the template** — Our Maryland-specific form includes all fields required by MD law.
2. **Enter your information** — Fill in names, addresses, dates, and transaction details accurately.
3. **Review carefully** — Double-check all entries against your source documents.
4. **Sign and witness** — Execute the document according to Maryland's signature requirements.
5. **Notarize if needed** — Some Maryland transactions require notarization.
6. **File or distribute** — Provide copies to all parties and file with the appropriate Maryland office if required.
Meeting Maryland's Legal Threshold
For your Promissory Note to hold up in a Maryland court, it must satisfy the state's statutory requirements. MD law emphasizes clear language, mutual consent, and proper execution. We've built these requirements directly into our template.
For your Promissory Note to hold up in a Maryland court, it must satisfy the state's statutory requirements. MD law emphasizes clear language, mutual consent, and proper execution. We've built these requirements directly into our template.
Other Forms in Maryland
Promissory Note in Neighboring States
Document Information
- Document
- Promissory Note
- State
- Maryland (MD)
- Category
- Financial
- Format
- PDF / Word / Print
- Cost
- 100% Free
- Sales Tax
- 6%
- Notary Fee
- $4
Maryland Legal Requirements
Governing Statute:
State Commercial Code
- ✓Must be in writing for amounts over $500
- ✓Clear payment terms required
- ✓Interest rate must comply with usury laws
- ✓Signature of borrower required
📊 Promissory Note vs. Loan Agreement in Maryland
Legal Disclaimer
This template is for informational purposes only and does not constitute legal advice. Laws in Maryland may change. Consult a licensed attorney for advice specific to your situation.