US Legal Forms
Localized Forms
Kansas
Overland Park
Kansas Assignment of Mortgage by Individual Mortgage Holder

Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Kansas

City:

Overland Park

Control #:

KS-120RE

Format:

Instant download

Upgrade to a Package! Assignment of Mortgage Value Package Go to Package

Description

This is an assignment of mortgage/deed of trust form where the owner of the deed of trust/mortgage conveys the owner's interest in the deed of trust/mortgage to a third party. The holder of the deed of trust/mortgage is an individual(s).

Assignment of Mortgage by Corporate Mortgage Holder

View this form

Jersey City Right of Way-Signal Light Intersection

View this form

Las Vegas Right of Way-Signal Light Intersection

View this form

Long Beach Right of Way-Signal Light Intersection

View this form

Louisville Right of Way-Signal Light Intersection

View this form

Memphis Right of Way-Signal Light Intersection

View this form

Third Party Summons in a Civil Action

View this form

Angel Investment Term Sheet

View this form

Letter to Law Enforcement Notifying Them o...

View this form

Contract for the Lease and Mandatory Purch...

View this form

Asset Purchase Agreement - Business Sale

View this form

Sample Letter for Payroll Dispute

View this form

Artist Management Agreement

View this form

AIDING AND ABETTING

View this form

Order Confirming Chapter 12 Plan - B 230A

View this form

Equity Share Agreement

View this form

How to fill out Kansas Assignment Of Mortgage By Individual Mortgage Holder?

If you are in search of a legitimate document, it’s remarkably challenging to select a superior platform compared to the US Legal Forms website – one of the largest repositories online.

With this collection, you can obtain an extensive array of document examples for corporate and personal applications categorized by types and regions, or keywords.

Thanks to our top-notch search capability, locating the latest Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder is as straightforward as 1-2-3.

Complete the transaction. Use your credit card or PayPal to finish the sign-up process.

Receive the document. Choose the format and store it on your device.

Furthermore, the validity of each document is authenticated by a group of professional lawyers who consistently review the templates on our site and update them in line with the latest state and county regulations.
If you are already familiar with our platform and possess a registered account, all you need to obtain the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder is to Log In to your account and click the Download button.
If you are using US Legal Forms for the first time, simply adhere to the instructions provided below.
Ensure you have located the document you desire. Read its description and utilize the Preview option to examine its content. If it does not fulfill your needs, utilize the Search box at the top of the page to discover the suitable document.
Validate your selection. Click on the Buy now button. After that, choose your desired subscription package and enter your details to create an account.

Form popularity

FAQ

Mortgages get assigned for several reasons, primarily to improve liquidity and facilitate the secondary mortgage market. When an individual mortgage holder, especially in Overland Park, Kansas, decides to sell their mortgage, it allows them to recover funds and transfer the responsibility to another lender. This process provides flexibility for both buyers and sellers and aids lenders in managing their portfolios. If you need assistance navigating the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, consider using US Legal Forms to find the right documents and guidance.

The main difference between a mortgage and a deed of trust lies in the number of parties involved. A mortgage typically involves two parties: the borrower and the lender, while a deed of trust includes a third party known as the trustee. This distinction can impact the foreclosure process. If you are handling an Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, it’s essential to know how these legal instruments function within your context. Uslegalforms can assist you in navigating these complexities.

Kansas operates primarily using mortgages rather than deeds of trust. This means that in Kansas, the mortgage holder retains a lien on the property while the borrower maintains ownership. If you are exploring the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, it’s vital to familiarize yourself with the specific regulations in Kansas for a smooth transfer process. Uslegalforms provides helpful resources for these situations.

Minnesota is primarily a state that utilizes mortgages for property financing. Mortgages in Minnesota allow for more straightforward enforcement of lending agreements. Therefore, when dealing with an Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, understanding state laws can minimize future legal complications. For detailed legal forms and assistance, you can count on uslegalforms.

The assignment document for a mortgage is a legal paper that outlines the details of the mortgage transfer from the original lender to another party. This document must be properly signed and recorded to ensure that the new lender has clear ownership of the mortgage. If you need assistance, platforms like uslegalforms provide document templates and guidance for executing the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder.

An example of assignment of duties can be seen when a project manager delegates specific tasks to team members, allowing them to take on certain responsibilities for project completion. This delegation ensures efficient workflow and focused accountability among team members. Such concepts also apply when managing properties in the context of the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder.

An example of the assignment of a mortgage is when a homeowner, who is the original mortgage holder, decides to transfer their mortgage to a different lender. This process typically occurs when a homeowner refinances their mortgage with another financial institution. It clarifies ownership rights and obligations, especially in the context of the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder.

To add a name to a deed in Kansas, you will need to execute a new deed that includes the new owner's name. Typically, this requires a quit claim deed or warranty deed, depending on your situation. Remember, if your case involves the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, proper documentation and filing are essential to reflect changes in ownership accurately.

To file a quitclaim deed in Kansas, start by preparing the deed with all necessary details, including the names of the parties involved and a description of the property. After properly signing the document in front of a notary, you must submit it to the Register of Deeds for the county. If you're working on the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, accurate filing can protect your interests during the transfer process.

The fastest way to transfer a deed in Kansas typically involves using a quit claim deed. This document can expedite the process since it requires less formal structure than other deed types. For those engaged in the Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder, a quick transfer of property title helps ensure a smooth transition of ownership.

Interesting Questions

Trusted and secure by over 3 million people of the world’s leading companies

Assignment of Mortgage by Individual Mortgage Holder

Assignments Generally: Lenders, or holders of mortgages or deeds of trust, often assign mortgages or deeds of trust to other lenders, or third parties. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor. To effectuate an assignment, the general rules is that the assignment must be in proper written format and recorded to provide notice of the assignment.

Satisfactions Generally: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property. The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien. Depending on your state, a satisfaction may be called a Satisfaction, Cancellation, or Reconveyance. Some states still recognize marginal satisfaction but this is slowly being phased out. A marginal satisfaction is where the holder of the mortgage physically goes to the recording office and enters a satisfaction on the face of the the recorded mortgage, which is attested by the clerk.

Kansas Law

Execution of Assignment or Satisfaction: Must be signed by the mortgagee.

Assignment: An assignment must be in writing and recorded.

Demand to Satisfy: Upon full payoff, mortgagor may make written demand by certified or registered mail requesting mortgagee to record satisfaction of mortgage, whereupon mortgagee has 20 days to comply or face liability.

Recording Satisfaction: Any mortgage of real property that has been or may hereafter be recorded shall be assigned or discharged by an instrument acknowledging the assignment or satisfaction of such mortgage, signed by the mortgagee, and duly acknowledged and certified as other instruments affecting real estate.

Marginal Satisfaction: Not allowed- Satisfaction must be by separate instrument.

Penalty: If mortgagee fails to have mortgage satisfied of record within 20 days of receipt of demand therefore, mortgagee shall be liable in damages to the person for whom the demand was made in the sum of $500, together with a reasonable attorney's fee for preparing and prosecuting the action. The plaintiff in such action may recover any additional damages that the evidence in the case warrants.

Acknowledgment: An assignment or satisfaction must contain a proper Kansas acknowledgment, or other acknowledgment approved by Statute.

Kansas Statutes

58-2306. Discharge or assignment of recorded mortgage; procedure.

(a) Except as otherwise provided by this section, any mortgage of real property that has been or may hereafter be recorded shall be assigned or discharged by an instrument acknowledging the assignment or satisfaction of such mortgage, signed by the mortgagee or such mortgagee's duly authorized attorney in fact, assignee of record, personal representative or by the lender or a designated closing agent acting as a closing agent in the sale, financing or refinancing of the real estate subject to such mortgage who has caused the indebtedness to be paid in full upon compliance with K.S.A. 58-2309a, and amendments thereto, and duly acknowledged and certified as other instruments affecting real estate. Such instrument shall contain the name of the mortgagor and mortgagee, a legal description of the property and the volume and page in which the mortgage is recorded.

(b) Where the mortgagee or assignee of record is deceased, and where the estate of such deceased mortgagee or assignee of record is in process of administration, in this or any other state, an assignment or a full release of such mortgage may be made by the executor or administrator without any showing as to the provisions of the will of the deceased, but there must accompany such assignment or release, as a part thereof, a certificate from a court of competent jurisdiction appointing such executor or administrator, under the hand of its proper officer, and attested by its seal, certifying as to such appointment, and that such executor or administrator is, at the date of such assignment or release, still so acting under the authority of such court. Such certificate shall not be required when the executor or administrator is acting under appointment of the district court of the county where the real estate mortgaged is located. Where the estate of such deceased has not been administered upon, or where the estate of such deceased has been administered and settled and the executor or administrator discharged, such assignment or release may be made by the heirs at law or legatee of such deceased mortgagee or assignee, and competent evidence must be furnished by them of the fact.

(c) Where the mortgagee or assignee of record is a firm or partnership, such mortgage shall be assigned or discharged by an instrument acknowledging the assignment or satisfaction of such mortgage as hereinbefore provided. Such instrument shall be signed either by each member of the firm or partnership, or by the firm or partnership, or by the firm or partnership by one of the members thereof.

(d) Any mortgage which, prior to July 1, 1977, has been released by a notation on the original mortgage instrument and signed by the mortgagee or the mortgagee's duly authorized attorney in fact, assignee of record or personal representative may be recorded in the office of the register of deeds of the county where the mortgaged property is located. When recorded, such release shall have the same force and effect as mortgages discharged in accordance with subsection (a).

58-2308. Discharge or assignment of mortgage to be recorded at length. Every such instrument, and the proof or acknowledgment thereof, shall be recorded at full length by the register of deeds, and a reference shall be made to the book and page containing such record or to the microphotograph number in the general or numerical indexes under the notation that such mortgage has been assigned or satisfied.

58-2309a. Entry of satisfaction of mortgage; duties and liability of mortgagee or assignee of mortgage; entry of satisfaction of mortgage by lender or closing agent, when.
(a) When the indebtedness secured by a recorded mortgage is paid and there is no agreement for the making of future advances to be secured by the mortgage, the mortgagee or the mortgagee's assignee shall enter satisfaction or cause satisfaction of such mortgage to be entered of record forthwith, paying the required fee. In the event the mortgagee or the mortgagee's assignee fails to enter satisfaction or cause satisfaction of such mortgage to be entered within 20 days after written demand by certified or registered mail, the lender or a designated closing agent acting as a closing agent in the sale, financing or refinancing of the real estate subject to such mortgage, who upon reliance of written payoff information provided by the mortgagee, and which payoff information shall be deemed as the correct and full amount due and owing under such mortgage, has caused the indebtedness to be paid in full may cause satisfaction of the mortgage to be entered. If in fact the mortgagee or mortgagee's assignee was not paid in accordance with the aforesaid payoff information when the mortgage was released the lender or the closing agent in the sale, financing or refinancing of the real estate subject to such mortgage who signed the false release shall be liable in damages to the mortgagee or mortgagee's assignee for the entire indebtedness together with interest thereon, attorney fees, and any additional damages that the mortgagee or mortgagee's assignee has incurred. Upon recording of such satisfaction by the lender or closing agent in the sale, financing or refinancing of the real estate subject to such mortgage, who has caused the indebtedness to be paid in full, such mortgage shall be deemed fully released as if discharged by the mortgagee or mortgagee's assignee.

(b) When a mortgage is recorded covering real estate in which the mortgagor has no interest, the mortgagee or the mortgagee's assignee shall enter satisfaction or cause satisfaction of such mortgage to be entered of record, paying the required fee without charge to the mortgagor or the mortgagor's assigns.

(c) A mortgagor, a mortgagor's heirs or assigns or anyone acting for such mortgagor, heirs or assigns, or the owner of real estate upon which a mortgage has been recorded by someone having no interest in the real estate, may make demand upon a mortgagee or assignee of a mortgagee for the entering of satisfaction of the mortgage, as provided for in subsections (a) and (b).

(d) Any mortgagee or assignee of a mortgagee who refuses or neglects to enter satisfaction of such mortgage within 20 days after demand has been made as provided in subsection (c) shall be liable in damages to the person for whom the demand was made in the sum of $500, together with a reasonable attorney's fee for preparing and prosecuting the action. The plaintiff in such action may recover any additional damages that the evidence in the case warrants. Civil actions may be brought under this act before any court of competent jurisdiction, and attachments may be had as in other cases.

(e) The mortgagee or assignee of a mortgagee entering satisfaction or causing to be entered satisfaction of a mortgage under the provisions of subsection (a) shall furnish to the office of the register of deeds the full name and last known post office address of the mortgagor or the mortgagor's assignee. The register of deeds shall forward such information to the county clerk who shall make any necessary changes in address records for mailing tax statements.

58-2318. Execution of assignments and releases of mortgages by corporations. All assignments and releases of mortgages by a corporation shall be valid when executed by the president, vice-president, secretary, cashier, treasurer or any other officer of such corporation so authorized by corporate resolution. Any assignment or release of a mortgage by a corporation which was executed on or after March 8, 1974, and prior to the effective date of this act, by one of the corporate officers designated herein, with or without attestation by the corporate seal, is hereby declared to be a legal and valid act of such corporation.

Assignment of Mortgage by Individual Mortgage Holder

Kansas Law

Execution of Assignment or Satisfaction: Must be signed by the mortgagee.

Assignment: An assignment must be in writing and recorded.

Marginal Satisfaction: Not allowed- Satisfaction must be by separate instrument.

Acknowledgment: An assignment or satisfaction must contain a proper Kansas acknowledgment, or other acknowledgment approved by Statute.

Kansas Statutes

58-2306. Discharge or assignment of recorded mortgage; procedure.

Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder

Description

Related forms

Viewed forms

How to fill out Kansas Assignment Of Mortgage By Individual Mortgage Holder?

Form popularity

FAQ

Why do mortgages get assigned?

What is the most significant difference between a mortgage and a deed of trust?

Is Kansas a mortgage or deed of trust state?

Is Minnesota a deed or mortgage state?

What is the assignment document for a mortgage?

What is an example of assignment of duties?

What is an example of assignment of a mortgage?

How do I add a name to a deed in Kansas?

How to file a quitclaim deed in Kansas?

What is the fastest way to transfer a deed?

Interesting Questions

What is the Assignment of Mortgage by an Individual Mortgage Holder?

Why would someone need to assign their mortgage to another party?

What are the steps involved in the Assignment of Mortgage process?

Who can be assigned a mortgage by an individual mortgage holder?

Does the borrower's consent or knowledge matter in the Assignment of Mortgage?

Is there any risk for the borrower in an Assignment of Mortgage?

Trusted and secure by over 3 million people of the world’s leading companies

Overland Park Kansas Assignment of Mortgage by Individual Mortgage Holder

Description

Related forms

Viewed forms

How to fill out Kansas Assignment Of Mortgage By Individual Mortgage Holder?

Form popularity

FAQ

Why do mortgages get assigned?

What is the most significant difference between a mortgage and a deed of trust?

Is Kansas a mortgage or deed of trust state?

Is Minnesota a deed or mortgage state?

What is the assignment document for a mortgage?

What is an example of assignment of duties?

What is an example of assignment of a mortgage?

How do I add a name to a deed in Kansas?

How to file a quitclaim deed in Kansas?

What is the fastest way to transfer a deed?