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The Promissory Note For Property is commonly used in Hong Kong real estate transactions where payment is to be made in installments or at a future date. This document type serves as a formal acknowledgment of debt and a legally binding promise to pay in connection with property transactions. It must comply with both Hong Kong's Bills of Exchange Ordinance for promissory notes and relevant property legislation such as the Conveyancing and Property Ordinance. The document typically specifies the amount owed, payment schedule, interest rates, property details, and any security arrangements. It's particularly useful in private property sales, development projects, or when structured payment arrangements are needed. The document can also be used as security and may be registered against the property title in certain circumstances.

1. Date: The date of execution of the promissory note

2. Parties: Identification of the maker (promisor) and payee (promisee) of the note

3. Promise to Pay: Clear and unconditional promise to pay a specific sum of money

4. Payment Terms: Details of the principal amount, interest rate, payment schedule, and maturity date

5. Property Details: Description and identification of the property related to the promissory note

6. Default Provisions: Consequences of default and remedies available to the payee

7. Governing Law: Specification that Hong Kong law governs the promissory note

8. Execution: Signature blocks and execution formalities