Official Oregon Promissory Note Form | Step-by-Step Guide
Written promise to pay a debt
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PROMISSORY NOTE
State of Oregon
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], OR [ZIP]
LENDER:
Name: [LENDER NAME]
Address: [ADDRESS]
City, State, ZIP: [CITY], OR [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 Oregon law (OR Statutes).
BORROWER SIGNATURE: _____________________ DATE: _____
FAQ: Promissory Note in Oregon
Is a Promissory Note required in Oregon?
Yes, in Oregon, a Promissory Note is required for most transactions of this type. Under Oregon 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 Oregon?
Notarization requirements in Oregon (OR) vary by transaction type. Notary fees in the state typically range from $10. 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 Oregon?
Oregon has a base sales tax rate of 0%. Depending on the type of transaction documented in your Promissory Note, additional local taxes may apply. Consult with a Oregon 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.
Where to File Your Promissory Note in Oregon
Visit your local County Clerk office to file or notarize your Promissory Note.
Oregon County Clerk
Oregon Capital
Main Government Building, Oregon
District County Clerk
Oregon Metro Area
County Courthouse, OR
Oregon Promissory Note Requirements
Review the following requirements to ensure your Promissory Note is legally valid in Oregon.
Oregon Notarization
While notarization may not be required in Oregon, it is recommended. Fees range from $10.
Before You Sign
Review all information carefully. Oregon does not impose a state sales tax, but local fees may apply.
Legal Protection
Keep copies of all signed documents. Oregon law requires all parties to receive copies of executed documents.
Oregon Filing Deadlines
Check Oregon deadlines for filing or recording this document with the appropriate county clerk's office.
Michael Chen, Esq.
Real Estate Law Consultant
Bar Certified, Real Estate Expert
Expert in property transactions and real estate documentation
This Promissory Note template for Oregon has been reviewed for accuracy and legal compliance.
Last reviewed: March 2026
Promissory Note Costs in Oregon
Estimated fees and processing times
| Fee Type | Cost | Notes |
|---|---|---|
| Notary Fee | $5-$15 (if required) | Oregon standard rate: $10 |
| Filing Fee | Varies by state | State registration (if applicable) |
| Processing Time | 1-3 business days | Typical turnaround in Oregon |
| Sales Tax | 0% | Oregon base rate (local taxes may apply) |
| Witness Requirement | 1 witness | Single witness sufficient |
| Our Template | FREE | Download instantly, no cost |
Oregon Promissory Note Legal Guide
Under Oregon jurisdiction, this form meets all statutory requirements and provides comprehensive legal protection for your transaction.
In Oregon, according to Oregon State Code, a 0% sales tax applies to applicable transactions. Notary fees in OR typically range from $10. A single witness signature is sufficient under state law.
Using this template ensures you're protected under Oregon law while saving time and money on legal fees.
Your Oregon Filing Guide
After downloading, take your time filling in each section. OR statutes require that all information be accurate and current. Once signed by all parties, determine whether Oregon requires you to file the document with a government office, record it with the county, or simply retain it for your records.
Legal Validity & Enforcement
Once properly executed, your Promissory Note is legally binding in Oregon and enforceable in OR courts. The document remains valid for the duration specified in its terms. Oregon courts generally uphold properly executed documents, provided they comply with applicable OR statutes.
Avoid These Common Mistakes
Oregon attorneys frequently see these errors:
- Using an out-of-state template that doesn't comply with OR law
- Forgetting to include required witness signatures
- Leaving fields blank or using abbreviations
- Not retaining copies for personal records
- Failing to update documents when Oregon law changes
Meeting Oregon's Legal Threshold
For your Promissory Note to hold up in a Oregon court, it must satisfy the state's statutory requirements. OR law emphasizes clear language, mutual consent, and proper execution. We've built these requirements directly into our template.
Once properly executed, your Promissory Note is legally binding in Oregon and enforceable in OR courts. The document remains valid for the duration specified in its terms. Oregon courts generally uphold properly executed documents, provided they comply with applicable OR statutes.
Avoid These Common Mistakes
Oregon attorneys frequently see these errors:
- Using an out-of-state template that doesn't comply with OR law
- Forgetting to include required witness signatures
- Leaving fields blank or using abbreviations
- Not retaining copies for personal records
- Failing to update documents when Oregon law changes
Meeting Oregon's Legal Threshold
For your Promissory Note to hold up in a Oregon court, it must satisfy the state's statutory requirements. OR 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 Oregon court, it must satisfy the state's statutory requirements. OR law emphasizes clear language, mutual consent, and proper execution. We've built these requirements directly into our template.
Other Forms in Oregon
Promissory Note in Neighboring States
Document Information
- Document
- Promissory Note
- State
- Oregon (OR)
- Category
- Financial
- Format
- PDF / Word / Print
- Cost
- 100% Free
- Sales Tax
- 0%
- Notary Fee
- $10
Oregon 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 Oregon
Legal Disclaimer
This template is for informational purposes only and does not constitute legal advice. Laws in Oregon may change. Consult a licensed attorney for advice specific to your situation.