Assignment of Deposit Account as Security

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This Assignment of Deposit Account as Security will effectively assign a specific deposit account as collateral for a debt. This assignment sets out the terms of the arrangement including the amount of the indebtedness and name and address of the financial institution where the deposit account is held.

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This Assignment of Deposit Account as Security will effectively assign a deposit account as collateral security for a debt. This document sets out the detailed terms of the assignment and includes the name of the person receiving the assignment (the “assignee”) and the specifics regarding the financial institution where the deposit account is held. It is important that this agreement be set out in writing. Having a written Assignment of Deposit Account as Security will be helpful in the event of misunderstandings.

This Assignment of Deposit Account as Security includes the following provisions:
  • Person Receiving Security: Sets out the name of the person receiving the deposit account as security;
  • Financial Institution: The name and address of the financial institution where the account is held and the deposit account number;
  • Indebtedness: The amount of assignor’s indebtedness;
  • Money Collected or Received: Any monies collected or received may be applied toward the indebtedness on which the deposit account acts as security;
  • Inspection: Assignor agrees to furnish assignee financing statements or other financial assignments or documents regarding the deposit account;
  • Signatures: The assignor must sign this agreement in the presence of a witness.

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This attorney-prepared packet contains:
  1. General Instructions
  2. Assignment of Life Insurance as Security
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28607
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
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