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These range from foundational documents like contracts, wills, and deeds to more specialized legal documents such as court pleadings, affidavits, and legal briefs. Court pleadings, for instance, are formal statements filed with a court that outline the issues to be decided in a case.
What Does Assignment Of Mortgage Mean? An assignment of mortgage is a legal term that refers to the transfer of the security instrument that underlies your mortgage loan ? aka your home. When a lender sells the mortgage on, an investor effectively buys the note, and the mortgage is assigned to them at this time.
This document was created when a mortgagee wished to recover his money, but the mortgagor could not pay it back. The mortgagee would assign the mortgage to another person, who would pay him the money he was owed.
Deeds are public information and can be obtained in the Recorder's office. Copies are $1.00 per page with most deeds being 1-2 pages long.
The 4 legal documents every adult should have A will. Also known as: a last will and testament. ... A living will. Also known as: an advance directive. ... Durable health care power of attorney. It appoints: a health care proxy. ... Durable financial power of attorney. It appoints: an attorney-in-fact or agent.
There are three types of legislation: statutes, regulations and bylaws, all have the force of law, but each are enacted differently.
As different as these documents are from each other, they all fall into one of three categories defined by the lawyer's primary role when writing them: (1) planning and preventive writing, (2) predictive writing, and (3) persuasive writing.
An assignment of mortgage gives the loan seller's rights under the mortgage, including the right to foreclose if the borrower doesn't make payments, to the new owner of the loan.
There are many types of legal documents, but here, we will focus on some of the most common ones, including contracts, wills, deeds, power of attorney, affidavits, and deposition.
A disadvantage of a mortgage assignment is the consequences of failing to record it. Under most state laws, an entity seeking to institute foreclosure proceedings must record the assignment before it can do so. If a mortgage is not recorded, the judge will dismiss the foreclosure proceeding.