US Legal Forms
Change or Modification Agreement of Deed of Trust

Deed Of Trust Records With Assignment Of Rents In Palm Beach

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Palm Beach

Control #:

US-00183

Format:

Instant download

Description

The Deed of Trust Records with Assignment of Rents in Palm Beach is a legal instrument that modifies an existing mortgage or deed of trust, providing a framework for securing the associated debt through a modification agreement. This form is essential for documenting changes to the lien on a property, ensuring that the terms of the original deed of trust remain enforceable while accommodating new modifications. Key features of this document include the renewal and extension of the lien, amendment clauses, and specific payment terms that detail the borrower's obligations and rights, including the ability to prepay without penalties. Users are advised to fill in the necessary details such as dates, amounts, and party names accurately to ensure legal compliance. The form's utility is broad, particularly for attorneys, partners, and owners engaged in real estate transactions, providing a clear structure for managing modifications to existing agreements. Paralegals and legal assistants can leverage this form to streamline the documentation process while ensuring that all legal requirements are met. Overall, this form is a critical resource for maintaining clarity and legal enforceability in real estate financial agreements in Palm Beach.

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FAQ

ASSIGNMENT OF RENTS - Trustor hereby assigns and transfers to Beneficiary all right, title and interest in rents generated by the property, including rents now due, past due, or to become due under any use of the property, to be applied to the obligations secured by this Deed of Trust.

Final answer: The assignment of rents clause primarily benefits the lender or financier in a mortgage arrangement. However, in some situations, tenants can indirectly benefit from the clause by ensuring continuation of essential services.

This assignment allows the new lender to enforce the terms of the deed of trust, collect payments, and take action in case of default. Recording this assignment in the county records where the property is located is crucial to maintain a clear chain of title and ensure the enforceability of the deed of trust.

Most documents can be processed using eRecording. The most commonly eRecorded documents are deeds, mortgages, assignment of mortgages and satisfaction of mortgages. However, certain document types cannot be eRecorded.

Same Day Recording Main Courthouse. Recording Department. 205 N. Dixie Highway, Room 4.2500. West Palm Beach, FL 33401. South County Courthouse. 200 W. Atlantic Ave. Delray Beach. North County Courthouse. 3188 PGA Blvd. Palm Beach Gardens. West County Courthouse. 2950 State Road 15, Room S-100. Belle Glade.

For more information on receiving copies of your public records, please contact the Records Service Center at (561) 355-2932.

If the deed is lost or misplaced and the homeowner needs the original document, a property owner can simply request, from the County recorder, a certified copy of the recorded document either in-person or by mail. In most instances, a certified copy has the same legal significance as the original document.