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Defining the Deed of Assignment Establish the parties involved in the Deed of Assignment. Identify the property or service being assigned. Specify the terms of the assignment. Ensure the Deed of Assignment is properly witnessed. Check that all signatures are valid.
An assignment in a deed of trust is a legal transfer of the lenders interest in the security instrument (the deed of trust) to a new party (the assignee). The assignor (current lender) transfers all rights, title, and interest in the deed of trust to the assignee, who becomes the new lender of record.
What Is Assignment in a Deed of Trust? In real estate law, assignment is simply the transfer of a deed of trust from one party to another. This usually happens when the beneficiary of a trust deed sells their loan to another lender.
The difference between assignment and transfer is that assign means its legal to transfer property or a legal right from one person to another, while transfer means its legal to arrange for something to be controlled by or officially belong to another person.
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