Prepare a Promissory Note with this easy-to-use template for Canada, to secure the balance payable to the vendor (seller) under an Asset Purchase (Rollover) Agreement, pursuant to the Income Tax Act (Canada).

A rollover is one of the most common methods of achieving a tax-deferred reorganization of business or investment interests. The vendor realizes no gain or loss, and the purchaser takes over the vendor's tax cost of the assets.

This Canadian Promissory Note for asset rollover is in MS Word format, and is fully editable.