Assignment of Mortgage by Individual Mortgage Holder - South Carolina 2025

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  1. Click ‘Get Form’ to open the Assignment of Mortgage in the editor.
  2. Begin by filling in the 'Prepared by and after Recording Return to' section. Enter your name, firm/company, address, city, state, zip code, and phone number.
  3. Next, provide the Assessor’s Property Tax Parcel/Account Number if applicable.
  4. In the 'ASSIGNMENT OF MORTGAGE' section, enter the names and addresses of both the Assignor (you) and Assignee (the recipient).
  5. Fill in details regarding the mortgage being assigned: include the date of mortgage, names of mortgagor(s), mortgagee, and filing information such as book and page numbers.
  6. Specify the property description as stated in the original mortgage document.
  7. Indicate the amount secured by the Promissory Note that is being assigned.
  8. Sign and date the document at the bottom. Ensure you have witnesses present for signing.
  9. Finally, complete any notary requirements as indicated at the end of the form.

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An assignment of mortgage transfers all the original mortgagees interest under the mortgage, including the lien and the right to foreclose if the borrower defaults, to the new bank. It is supposed to be recorded with the county to reflect who holds the mortgage interest.
In South Carolina, the assignment of a contract is generally permissible unless the contract itself prohibits it or if the assignment would docHubly change the obligations of the other party.
Home mortgages are often assigned by their original lenders to other companies. Assignment usually doesnt change much for the borrower, except that the payments will go to a different address. The original loan amount, interest payment, term and monthly principal and interest part of the payment will stay the same.
Assignment of mortgage forms shall include the name of the mortgagor and the name and address of the mortgagee and the book, page, and date of recording of the original mortgage, and may include a toll free number for the assignee if such a number is available.
Assignment of mortgage typically happens because, once you close on your mortgage loan, your lender will quickly sell the mortgage note to another entity. Doing so allows your mortgage provider to ensure future financial liquidity so that it can keep extending home loans to other borrowers.
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To complete the transfer of rights, the lender (assignor) records the assignment of the mortgage with the local registry office, specifying the new holder (assignee) of the mortgage.

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