LEGALDOCS - Pledge Agreement
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This is an example of a completed Pledge Agreement.
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matters important to you are covered in the Pledge Agreement
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This Agreement is used to create a lien (also known as a "security interest") in property, to secure the faithful performance of an obligation owed by one party (typically known as the "Debtor") to another party (typically known as the "Secured Party" or "Creditor"). Two of the most common forms of Pledges are: (1) the standard home mortgage, where the lending bank holds a lien on the borrower's home, as security for repayment of the home loan; and (2) a car loan, where the lender retains the certificate of title (aka "pink slip") to the car. (DO NOT use this Pledge Agreement for a mortgage or car loan - those matters require other, more extensive documentation.) Note that with all pledges, including a mortgage and car loan security interest, the ownership of the pledged property is retained by the Debtor, and the lender only has a security interest in the pledged property. This Agreement does not provide the written terms of the underlying loan itself, which terms would be provided in another contract, typically in a Promissory Note.
Common examples of pledge situations are as follows:
- Debtor borrows $1,000 from Creditor, and to insure Debtor's repayment of the loan, Debtor gives his gold Rolex watch to Creditor. When Debtor repays, Creditor has an obligation to return the watch, which legally is known as the "collateral".
- Debtor borrows $10,000 from his father so Debtor can buy shares of stock from ABC Company. To insure his son's repayment of the money, father has his son give him the actual share certificate as collateral. Upon the repayment of the loan, father has a duty to return the collateral to his son.
To create a Pledge Agreement, complete this form.
Debtor's Business Type:
Creditor's Business Type:Definitions:
To make this agreement specific to your needs, you will need to specifically describe the "debt" that is owed, the person to whom the debt is owed to (called the "secured party"), and the "collateral" which will be used to secure the debt.
Please complete the following sentences (don't punctuate at the end of the sentence) to describe the debt, the secured party, and the collateral.
a. The "debt", which is the debtor's obligation to Secured Party, consists of:
(For Example: "the sum of $18,000, per a promissory note attached to this Pledge Agreement as Exhibit A")
b. The name of the Secured Party is:
c. The collateral being used to secure the Debtor's performance of Debtor's obligation is:
(For example: "1997 Acura Legend, LS, Coupe, VIN # 122abc123abc" OR
"Debtor's shareholders interest in ABC Corporation, evidenced by stock certificate number 2002".)
Additional terms to the Agreement:
This space will allow you to insert any additional terms to the agreement, if any, you want to include in this Pledge Agreement.
Use complete sentences and correct punctuation.
Note: If this area remains blank, there will be no reference to "Terms to the Agreement" in this Pledge Agreement
This Agreement will be signed in the
- This Agreement shall be construed under the laws of the
This completes the information input for your Pledge Agreement. When you Send this Form, this program will prepare a Summary of the Pledge Agreement for your review. Make sure that all facts stated in the Summary are correct in all respects.
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