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Is a note, to be treated as cash? It's a debt obligation the same as a Federal Reserve Note or bond is it not?

Marietta, GA |

Is the promissory note on a house a negotiable instrument [Article 3] or a security [Article 8]?

Attorney Answers 2


  1. No, as with the last question, there is no magical way to file a UCC, or obscure Admiralty law, or theory that the Treasure system is unconstitutional, to get you out of your home loan.


  2. A promissory note on a house is a negotiable instrument. If it relates to a home loan then the bank files a security deed on the property or, in other states, a mortgage/deed of trust. These are not filed as UCC statements.

    And its not the same as a federal reserve note or cash. The promissory note is secured by the real property.

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