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Assignment of Mortgage

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Assignment of Mortgage

File Type: Word      Price: $4.99        

                                                                                

Summary: Holders of Mortgages often sell their mortgages to other banks or lenders in order to free up additional cash so they can make additional loans. These mortgages are sold via an Assignment of Mortgage agreement, which documents the purchase price, assignor and assignee, and much more.

 

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ASSIGNMENT OF MORTGAGE

THIS ASSIGNMENT OF MORTGAGE (hereinafter referred to as the "Assignment") is made as of this _____ day of _________, 20______ by _________________________, whose address is________________________________ (hereinafter referred to as the "Assignor") for the benefit of __________________, whose address is ___________________________

(hereinafter referred to Assignee)

W I T N E S S E T H : 

WHEREAS, Assignor is the holder of that certain Mortgage together with the debt and Note secured thereby, in the original principal sum of ________________________ Dollars ($_________) given ________________________________ as "Mortgagor", which Mortgage is recorded on the Public Records of ________________ County, ____________ at State of _____________, Book _______, Page _______ and which Mortgage encumbers and is a lien upon that certain real property described in Exhibit "A" attached hereto and by this reference made a part hereof (hereinafter referred to as the "Premises"); and,

WHEREAS, Assignor is desirous of assigning said Mortgage, together with the Note and the debt therein described, to Assignee; and

WHEREAS, Assignee is desirous of receiving and holding said Mortgage, together with the Note and the debt therein described, from Assignor.

NOW, THEREFORE, for and in consideration of the sum of _______________________________ Dollars ($___________) paid by Assignee, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by Assignor, Assignor does hereby make the following assignment:

1. Assignment. Assignor has granted, bargained, sold, assigned, conveyed and transferred, and by these presents does grant, bargain, sell, assign, convey and transfer unto Assignee, its heirs, successors and assigns, forever all of its right, title and interest in, to and under said Mortgage described above, together with the debt and Note secured thereby; together with any and all rights, interests and appurtenances thereto belonging; subject only to any right and equity of redemption of said Mortgagor, its successors or assigns in the same.

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