If you are selling a real estate property and allowing the buyer to pay part of the purchase price over time, secure payment of the outstanding balance by having the buyer sign this Purchase Money Promissory Note form, for use in Canada.

The buyer will pay off the balance of the purchase price in regular installments, rather than having to come up with all of the purchase money in order to close the sale. The Note contains an acceleration clause, i.e. if the maker defaults in a payment, the entire balance together with interest becomes immediately due and payable.

This is a Canadian promissory note form in MS Word format, and is fully editable to fit your specific circumstances.