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A permissive note release is a receipt given to a borrower confirming that their debt, including interest, has been fulfilled. This release, signed by the lender, legally frees the borrower from the lending relationship. Key elements of a permissive note release include the names of the borrower and lender, dates of the original note and release, total debt paid, and the lender's signature. Witnesses or notaries are not required for the release. Both parties should keep signed copies, and it is advisable to file the release alongside the original promissory note to ensure proof of loan payment in case of clerical errors at credit bureaus.