West Virginia Promissory Note
Generate a promissory note tailored to West Virginia law. Our AI incorporates WV-specific statutory requirements, disclosure obligations, and legal standards into every document.
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West Virginia Legal Requirements
Key WV statutes and obligations that apply to your promissory note.
Requirements
- Must identify the borrower and lender, principal amount, interest rate, repayment schedule, and maturity date
- West Virginia's legal interest rate is 6% per annum absent a written agreement specifying a higher rate (W. Va. Code § 47-6-5)
- Notes secured by West Virginia real property require a separate deed of trust recorded with the county clerk
Restrictions & Limits
- Consumer loans are subject to the West Virginia Consumer Credit and Protection Act (W. Va. Code § 46A-1-101 et seq.); lenders must comply with licensing and disclosure requirements
- Excessive interest rates in consumer transactions may be subject to penalties under the Consumer Credit and Protection Act
- Acceleration clauses and default interest provisions must be clearly stated in the note to be enforceable
Official Statute References
Primary West Virginia statutes governing this document type.
West Virginia Promissory Note FAQ
Common questions about promissory notes under West Virginia law.
What is the maximum legal interest rate for a promissory note in West Virginia?
West Virginia Code § 47-6-5 sets the default legal interest rate at 6% per annum. Parties may agree in writing to a higher rate, subject to the consumer protection limits of the West Virginia Consumer Credit and Protection Act for consumer transactions.
Does a West Virginia promissory note need to be notarized?
Notarization is not required for an unsecured promissory note to be enforceable. For notes secured by real property, the accompanying deed of trust must be acknowledged before a notary and recorded with the clerk of the county court.
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Promissory Note by State
Laws vary significantly by state. Find the right form for your location.
Disclaimer: LegalLawDocs.com provides self-help legal documents for informational purposes only. The documents and information on this site do not constitute legal advice and are not a substitute for consultation with a licensed attorney. Laws vary by state and change frequently — review your document with a qualified professional before relying on it.