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Assignment of Mortgage by Individual Mortgage Holder - Rhode Island

Assignment of Mortgage by Individual Mortgage Holder - Rhode Island 2026

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The document is an Assignment of Mortgage, detailing the transfer of mortgage rights from the Assignor to the Assignee. It includes information about the parties involved, the mortgage details, and legal acknowledgments required for the assignment to be valid.

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Click ‘Get Form’ to open the Assignment of Mortgage in the editor.
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.
Next, provide the Assessor’s Property Tax Parcel/Account Number if applicable.
In the 'ASSIGNMENT OF MORTGAGE' section, enter the names and addresses of both the Assignor (you) and Assignee (the recipient).
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.
Specify the amount secured by the Promissory Note in dollars.
Sign and date the document at the bottom where indicated. Ensure that you also have a notary public witness your signature for validation.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can I assign my mortgage to another person?

Most loans dont allow another borrower to take over payment of an existing mortgage, but the lender may allow a mortgage transfer in certain situations such as a death, divorce or separation, or when a living trust is involved. Government-backed loans do allow transfers in some cases, but the process isnt simple.

What are the downsides of an assumable mortgage?

Such transfers often happen when a lender sells the mortgage to another financial institution or when borrowers refinance their loans for better terms. Mortgage assignments are essential because they help lenders manage risk and liquidity while offering borrowers new options and potential benefits.

Can a mortgage be assigned?

Assignment of mortgage is the process that records the legal transfer of a mortgage from a lender to another person or an entity. In essence, assignment of mortgage simply means that your lender has sold your mortgage note to a government-sponsored enterprise (GSE) or a private investor.

What is a mortgage reassignment?

A mortgage transfer involves reassigning an existing mortgage from the current holder to another party. This can be a strategic option for homeowners struggling with payments, provided their mortgage terms allow it.

How does a mortgage assignment work?

In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lenders interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgages terms should remain the same.

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How to record an assignment of a mortgage?

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.

Can you assign your mortgage?

A transfer of a mortgage is the process of reassigning an existing home loan to another person or entity. The new borrower agrees to make all future payments at the original interest rate. The transfer typically eliminates any legal obligations the original borrower has to the loan.

Assignment of Mortgage by Individual Mortgage Holder - Rhode Island 2026

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