Assignment of Mortgage as Security

for Your State

This Assignment of Mortgage as Security assigns the security in a mortgage as collateral. This assignment sets forth all terms of the agreement including the names of the assignor and assignee, address of mortgaged property and amount owed on the mortgage. This form is for use in all states.

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

Attorney prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by an attorney, so you can be sure that you are getting a form that is accurate and valid in your state.

Valid in your state

Our forms are guaranteed
to be valid in your state

Our team works tirelessly to keep our products current. As the laws change in your state, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

Free eSignature

Sign your form online, free with any form purchase

We now provide a free Electronic Signature Service to all of our visitors. There are no hidden charges or subscription fees, it's just plain free.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
This Assignment of Mortgage as Security will effectively assign the security in a mortgage as collateral. This agreement is between the individual holding the mortgage (the “assignor”) and the person to whom the mortgage is assigned (the “assignee”) and sets forth the specific terms of the arrangement. These terms include the name of the borrower, address of the mortgaged property and the principal amount currently owing on the mortgage. It is important that this transaction be set forth in writing. If there are disagreements or disputes between the parties, a well-written Assignment of Mortgage as Security will prove invaluable.

This Assignment of Mortgage as Security includes the following provisions:
  • Assignment Date/Parties: Sets forth the effective date of the assignment and the identities of the assignor and assignee;
  • Mortgage Information: Sets out the date and recording information of the mortgage, the name of the borrower, address of mortgaged property, original amount of the mortgage and the amount presently owed;
  • Security: Assignor sets out that mortgage is a valid security and that the mortgage has not been discharged;
  • Signatures: Both parties must sign the mortgage assignment in the presence of witnesses.

Protect your Rights and Property by using our attorney-prepared forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. Assignment of Mortgage 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.
 
 
Assignment of Mortgage as Security

 

 
 
THIS ASSIGNMENT dated as of Effective Date of Assignment (ie. July 1, 2000) between Name of Person Holding Mortgage (Assignor), of Address of Assignor (the “Assignor”) and Name of Person Receiving Assignment of Mortgage (Assignee), of Address of Assignee (the “Assignee”).
 
WHEREAS:
 
(A)   By a mortgage dated Date of Mortgage (the "Mortgage"), and on Date of Registration/Recordal of Mortgage, as Registration/Recordal Number of Mortgage, Name of Borrower under Mortgage (Mortgagor) (the "Mortgagor") mortgaged the property described as Brief Description of Property (ie. 123 Whiteacre Street, Anywhere, Anyplace) (the "Property") in favour of the Assignor to secure payment of the principal sum of Original Amount of Indebtedness from Mortgage Borrower to Assignor (ie. $100,000.00) dollars with interest as therein set out upon the terms therein mentioned;
 
(B)   There is now owing upon the Mortgage for principal the sum of Amount of Indebtedness Now Owing from Mortgage Borrower to Assignor (ie. $86,000.00) dollars together with interest thereon from the date hereof;
 
(C)   The Assignor has agreed to assign the Mortgage to the Assignee as continuing collateral security for payment by the Assignor of all indebtedness of the Assignor to the Assignee;
 
NOW THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
 
1.   The Assignor hereby assigns, transfers and sets over to the Assignee the Assignor's interest as mortgagee in the Mortgage and also the sum of Amount of Indebtedness Now Owing from Mortgage Borrower to Assignor (ie. $86,000.00) now owing as aforesaid, together with all monies that may hereafter become due or owing in respect of the Mortgage, the charge upon the Property and the full benefit of all powers and of all covenants contained in the Mortgage, and also the full power and authority to use the name or names of the Assignor for enforcing the performance of the covenants and other matters and things contained in the Mortgage, as a general and continuing collateral security for payment of all existing and future indebtedness and liability of the Assignor to the Assignee wheresoever and howsoever incurred and any ultimate unpaid balance thereof, and as a first and prior claim upon the Mortgage.
 
2.   The Assignor hereby covenants with the Assignee that the Mortgage is a good and valid security and the sum of Amount of Indebtedness Now Owing from Mortgage Borrower to Assignor (ie. $86,000.00) is now owing and unpaid and that the Assignor has not done or permitted any act, matter or thing whereby the Mortgage has been released or discharged either partly or in its entirety.
 
3.   The Assignee may collect, realize, sell or otherwise deal with the Assigned Accounts or any part thereof in such manner, upon such terms and conditions and at such time or times as may seem to it advisable and without notice to the Assignor (except as otherwise required by any applicable law), and may charge on its own behalf and pay to others reasonable sums for expenses incurred and for services rendered (expressly including legal advice and services) in or in connection with collecting, realizing, selling or obtaining payment of the Assigned Accounts and may add the amount of such sums to the indebtedness of the Assignor.
 
4.   The Assignee shall not be liable or accountable for any failure to collect, realize, sell or obtain payment of the Assigned Accounts or any part thereof and shall not be bound to institute proceedings for the purpose of collecting, realizing or obtaining payment of the same or for the purpose of preserving any rights of the Assignee, the Assignor or any other person, firm or corporation in respect of the same.
 
5.   The Assignee may grant extensions of time and other indulgences, take and give up securities, accept compositions, grant releases and discharges and otherwise deal with the Mortgagor and the Mortgage without prejudice to the liability of the Assignor or the Assignee's right to hold and realize this security.
 
6.   All moneys collected or received by the Assignor in respect of the Mortgage shall be received as trustee for the Assignee and shall be forthwith paid to the Assignee.
 
7.   All moneys collected or received by the Assignee in respect of the Mortgage (whether by virtue of paragraph 6 or otherwise) may be applied on account of such parts of the indebtedness and liability of the Assignor as to the Assignee seems best or in the discretion of the Assignee may be released to the Assignor, all without prejudice to the Assignee's claims upon the Assignor.
 
8.   The Assignor shall from time to time forthwith on the Assignee's request do, make and execute all such further assignments, documents, acts, matters and things as may be required by the Assignee of or with respect to the Mortgage as may be required to give effect to these presents, including, but not limited to obtaining waivers and subordinations of interests in the Mortgage from any persons having a prior claim or interest thereto. The Assignor hereby constitutes and appoints the Assignee the true and lawful attorney of the Assignor irrevocable with full power or substitution to do, make and execute all such statements, assignments, documents, acts, matters or things with the right to use the name of the Assignor whenever and wherever it may be deemed necessary or expedient.
 
9.   The provisions hereof shall enure to the benefit of the successors and assigns of the Assignee and shall be binding upon the respective heirs, executors, administrators, successors and assigns of the Assignor.
 
Date:   Date of Assignment
 
 
 
 
 
 
Witness
 
Assignor
 
 
 
 
 
Witness
 
Assignee
 
Number of Pages5
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28949
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.
 
 
Assignment of Mortgage as Security

 

 
 
THIS ASSIGNMENT dated as of Effective Date of Assignment (ie. July 1, 2000) between Name of Person Holding Mortgage (Assignor), of Address of Assignor (the “Assignor”) and Name of Person Receiving Assignment of Mortgage (Assignee), of Address of Assignee (the “Assignee”).
 
WHEREAS:
 
(A)   By a mortgage dated Date of Mortgage (the "Mortgage"), and on Date of Registration/Recordal of Mortgage, as Registration/Recordal Number of Mortgage, Name of Borrower under Mortgage (Mortgagor) (the "Mortgagor") mortgaged the property described as Brief Description of Property (ie. 123 Whiteacre Street, Anywhere, Anyplace) (the "Property") in favour of the Assignor to secure payment of the principal sum of Original Amount of Indebtedness from Mortgage Borrower to Assignor (ie. $100,000.00) dollars with interest as therein set out upon the terms therein mentioned;
 
(B)   There is now owing upon the Mortgage for principal the sum of Amount of Indebtedness Now Owing from Mortgage Borrower to Assignor (ie. $86,000.00) dollars together with interest thereon from the date hereof;
 
(C)   The Assignor has agreed to assign the Mortgage to the Assignee as continuing collateral security for payment by the Assignor of all indebtedness of the Assignor to the Assignee;
 
NOW THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
 
1.   The Assignor hereby assigns, transfers and sets over to the Assignee the Assignor's interest as mortgagee in the Mortgage and also the sum of Amount of Indebtedness Now Owing from Mortgage Borrower to Assignor (ie. $86,000.00) now owing as aforesaid, together with all monies that may hereafter become due or owing in respect of the Mortgage, the charge upon the Property and the full benefit of all powers and of all covenants contained in the Mortgage, and also the full power and authority to use the name or names of the Assignor for enforcing the performance of the covenants and other matters and things contained in the Mortgage, as a general and continuing collateral security for payment of all existing and future indebtedness and liability of the Assignor to the Assignee wheresoever and howsoever incurred and any ultimate unpaid balance thereof, and as a first and prior claim upon the Mortgage.
 
2.   The Assignor hereby covenants with the Assignee that the Mortgage is a good and valid security and the sum of Amount of Indebtedness Now Owing from Mortgage Borrower to Assignor (ie. $86,000.00) is now owing and unpaid and that the Assignor has not done or permitted any act, matter or thing whereby the Mortgage has been released or discharged either partly or in its entirety.
 
3.   The Assignee may collect, realize, sell or otherwise deal with the Assigned Accounts or any part thereof in such manner, upon such terms and conditions and at such time or times as may seem to it advisable and without notice to the Assignor (except as otherwise required by any applicable law), and may charge on its own behalf and pay to others reasonable sums for expenses incurred and for services rendered (expressly including legal advice and services) in or in connection with collecting, realizing, selling or obtaining payment of the Assigned Accounts and may add the amount of such sums to the indebtedness of the Assignor.
 
4.   The Assignee shall not be liable or accountable for any failure to collect, realize, sell or obtain payment of the Assigned Accounts or any part thereof and shall not be bound to institute proceedings for the purpose of collecting, realizing or obtaining payment of the same or for the purpose of preserving any rights of the Assignee, the Assignor or any other person, firm or corporation in respect of the same.
 
5.   The Assignee may grant extensions of time and other indulgences, take and give up securities, accept compositions, grant releases and discharges and otherwise deal with the Mortgagor and the Mortgage without prejudice to the liability of the Assignor or the Assignee's right to hold and realize this security.
 
6.   All moneys collected or received by the Assignor in respect of the Mortgage shall be received as trustee for the Assignee and shall be forthwith paid to the Assignee.
 
7.   All moneys collected or received by the Assignee in respect of the Mortgage (whether by virtue of paragraph 6 or otherwise) may be applied on account of such parts of the indebtedness and liability of the Assignor as to the Assignee seems best or in the discretion of the Assignee may be released to the Assignor, all without prejudice to the Assignee's claims upon the Assignor.
 
8.   The Assignor shall from time to time forthwith on the Assignee's request do, make and execute all such further assignments, documents, acts, matters and things as may be required by the Assignee of or with respect to the Mortgage as may be required to give effect to these presents, including, but not limited to obtaining waivers and subordinations of interests in the Mortgage from any persons having a prior claim or interest thereto. The Assignor hereby constitutes and appoints the Assignee the true and lawful attorney of the Assignor irrevocable with full power or substitution to do, make and execute all such statements, assignments, documents, acts, matters or things with the right to use the name of the Assignor whenever and wherever it may be deemed necessary or expedient.
 
9.   The provisions hereof shall enure to the benefit of the successors and assigns of the Assignee and shall be binding upon the respective heirs, executors, administrators, successors and assigns of the Assignor.
 
Date:   Date of Assignment
 
 
 
 
 
 
Witness
 
Assignor
 
 
 
 
 
Witness
 
Assignee
 

Looking for something else?