Assignment of Mortgage by Individual Mortgage Holder - Kentucky 2025

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When buying property in Kentucky, if you are married, both spouses must sign mortgages associated with the property whether or not they appear on the note and deed.
Mortgage Assignment Basics Mortgages are assigned using a document called an assignment of mortgage. This legally transfers the original lenders interest in the loan to the new company. After doing this, the original lender will no longer receive the payments of principal and interest.
When your original lender transfers your mortgage account and their interests in it to a new lender, thats called an assignment of mortgage. To do this, your lender must use an assignment of mortgage document. This document ensures the loan is legally transferred to the new owner.
In a mortgage loan, the borrower always creates two documents: a note and a mortgage.
Final answer: A mortgage loan typically comprises of two documents: the Promissory Note, stating the borrowers promise to repay, and the Mortgage or Deed of Trust, allowing the lender to use property as security for repayment if the borrower defaults.

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Assignments Generally: Lenders, or holders of mortgages or deeds of trust, often assign mortgages or deeds of trust to other lenders, or third parties. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor.

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