US Legal Forms
Localized Forms
Texas
Wichita Falls
Texas Assignment of Deed of Trust by Corporate Mortgage Holder

Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Texas

City:

Wichita Falls

Control #:

TX-121RE

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 a corporation.

Austin Letter of Notice to Borrower of Assignment of Mortgage

View this form

Austin Letter to Recording Office for Recording Assignment of Mortgage

View this form

Austin Owner's - Seller's - Affidavit

View this form

Austin Assignment Agreement

View this form

San Antonio Assignment of Mortgage

View this form

Power of Attorney and Health Care Revocation

View this form

Letter from Tenant to Landlord with Demand...

View this form

Last Will and Testament for Widow or Widow...

View this form

Compensation for Change Orders and Builder...

View this form

Warranty Deed from Husband and Wife to LLC

View this form

Bill of Sale of Automobile and Odometer St...

View this form

Petition for authority to Sale real estate

View this form

Matters to be Considered in Drafting a Not...

View this form

Sample International Due Diligence Report

View this form

Lease to Own for Commercial Property

View this form

How to fill out Texas Assignment Of Deed Of Trust By Corporate Mortgage Holder?

Utilize the US Legal Forms and gain immediate access to any form sample you require.

Our advantageous website housing thousands of templates enables you to locate and acquire nearly any document sample you need.

You can download, complete, and verify the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder in just a few minutes instead of spending hours online trying to find a suitable template.

Employing our collection is an excellent method to enhance the security of your form submission.

The Download button will be activated on all samples you review. Additionally, you can access all previously saved documents in the My documents section.

If you have not created an account yet, follow the steps outlined below.

Our skilled attorneys frequently review all documents to ensure that the templates are appropriate for a specific state and comply with the latest laws and regulations.
How can you obtain the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder.
If you already possess a subscription, simply Log In to your account.

Form popularity

FAQ

A corporate Assignment of Deed of Trust involves transferring the mortgage interest from a corporate entity to another party or entity, such as a trust. This process is often used in commercial real estate transactions. It helps streamline ownership and can assist in financial restructuring or estate planning. For comprehensive guidance, you can explore resources on USLegalForms related to Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder.

Individuals often place their mortgage in a trust for various reasons, such as privacy, asset protection, and streamlined estate management. By doing so, they can ensure that their assets are distributed according to their wishes after their passing. Additionally, a mortgage in a trust may help avoid probate, providing a smoother transition for beneficiaries in Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder.

The Assignment of Deed of Trust typically requires signatures from the original mortgage holder and the trustee of the trust. In the case of a corporate mortgage holder, an authorized representative must sign on behalf of the corporation. It's essential to check that all necessary parties are included to ensure the assignment is valid, especially in Wichita Falls Texas.

Yes, you can assign a mortgage to a trust. This process allows the trust to receive the benefits and responsibilities of the mortgage. Doing so can be beneficial for estate planning or protecting assets. Always consider local laws and regulations for the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder to make sure you're compliant.

To assign a mortgage to a trust, you generally prepare an Assignment of Deed of Trust document. This document transfers the mortgage interest from the original holder to the trust. It should include specific details about the mortgage and the trust. Consulting with a legal professional can help ensure that the assignment complies with all local laws, including those specific to Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder.

A deed is a broad legal document that formally conveys ownership or interest in property, whereas a deed of assignment specifically addresses the transfer of certain rights. When discussing the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder, understanding this distinction helps clarify which rights are being transferred without altering overall ownership. Using a reliable platform like uslegalforms can simplify these processes.

A deed of transfer conveys ownership of property from one individual to another, while a deed of assignment focuses on the transfer of specific rights related to that property. In the context of the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder, the assignment clarifies which rights have been transferred while ownership of the property remains with the original holder. Recognizing these terms is vital for legal clarity.

A deed of assignment specifically pertains to the documentation of rights being assigned, while a transfer generally implies the relocation of ownership or property. In a Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder, the focus is on assigning specific rights without transferring full ownership. Understanding these differences is essential for navigating legal agreements.

A deed of assignment serves as a legal document that confirms the transfer of rights from one party to another. This document is particularly relevant in scenarios like the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder. It provides clarity and protection for both parties involved by clearly outlining the rights that have been assigned.

An assignment involves transferring specific rights or interests from one party to another, but it does not necessarily imply a complete transfer of ownership. In the context of the Wichita Falls Texas Assignment of Deed of Trust by Corporate Mortgage Holder, the original holder assigns rights to a new party while retaining ownership of the underlying deed. Thus, it's crucial to understand the distinctions between assignment and ownership.

Interesting Questions

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

Assignment of Deed of Trust by Corporate 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 rule 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.

Texas Law

Recording Satisfaction:

There are no provisions requiring a Texas creditor to release a fully paid debt, but if a creditor fails to do so within 60 days of full payoff, a representative of a title insurance company may record an affidavit which releases the lien described in the affidavit.

Acknowledgment:

An assignment or satisfaction must contain a proper Texas acknowledgment, or other acknowledgment approved by Statute.

Texas Statutes

CHAPTER 12. RECORDING OF INSTRUMENTS

§ 12.001. Instruments Concerning Property

(a) An instrument concerning real or personal property may be recorded if it has been acknowledged, sworn to with a proper jurat, or proved according to law.

(b) An instrument conveying real property may not be recorded unless it is signed and acknowledged or sworn to by the grantor in the presence of two or more credible subscribing witnesses or acknowledged or sworn to before and certified by an officer authorized to take acknowledgements or oaths, as applicable.

(c) This section does not require the acknowledgement or swearing or prohibit the recording of a financing statement, a security agreement filed as a financing statement, or a continuation statement filed for record under the Business & Commerce Code.

(d) The failure of a notary public to attach an official seal to an acknowledgment, a jurat, or other proof taken outside this state but inside the United States or its territories renders the acknowledgment, jurat, or other proof invalid only if the jurisdiction in which the acknowledgment, jurat, or other proof is taken requires the notary public to attach the seal.

§ 12.009. Mortgage or Deed of Trust Master Form

(a) A master form of a mortgage or deed of trust may be recorded in any county without acknowledgement or proof. The master form must contain on its face the designation: "Master form recorded by (name of person causing the recording)."

(b) The county clerk shall index a master form under the name of the person causing the recording and indicate in the index and records that the document is a master mortgage.

(c) The parties to an instrument may incorporate by reference a provision of a recorded master form with the same effect as if the provision were set out in full in the instrument. The reference must state:

(1) that the master form is recorded in the county in which the instrument is offered for record;

(2) the numbers of the book or volume and first page of the records in which the master form is recorded; and

(3) a definite identification of each provision being incorporated.

(d) If a mortgage or deed of trust incorporates by reference a provision of a master form, the mortgagee shall give the mortgagor a copy of the master form at the time the instrument is executed. A statement in the mortgage or deed of trust or in a separate instrument signed by the mortgagor that the mortgagor received a copy of the master form is conclusive evidence of its receipt. On written request the mortgagee shall give a copy of the master form without charge to the mortgagor, the mortgagor's successors in interest, or the mortgagor's or a successor's agent.

(e) The provisions of the Uniform Commercial Code prevail over this section.

§ 12.017 PROP. Title Insurance Company Affidavit as Release of Lien; Civil Penalty

(a) In this section:

(1) "Mortgage" means a deed of trust or other contract lien on an interest in real property.

(2) "Mortgagee" means:

(A) the grantee of a mortgage;

(B) if a mortgage has been assigned of record, the last person to whom the mortgage has been assigned of record; or

(3) "Mortgage servicer" means the last person to whom a mortgagor has been instructed by a mortgagee to send payments for the loan secured by a mortgage. A person transmitting a payoff statement is considered the mortgage servicer for the mortgage described in the payoff statement.

(4) "Mortgagor" means the grantor of a mortgage.

(5) "Payoff statement" means a statement of the amount of:

(A) the unpaid balance of a loan secured by a mortgage, including principal, interest, and other charges properly assessed under the loan documentation of the mortgage; and

(B) interest on a per diem basis for the unpaid balance.

(6) "Title insurance company" means a corporation or other business entity authorized and licensed to transact the business of insuring titles to interests in real property in this state.

(b) This section applies only to a mortgage on property consisting exclusively of a one-to-four-family residence, including a residential unit in a condominium regime.

(c) If a mortgagee fails to execute and deliver a release of mortgage to the mortgagor or the mortgagor's designated agent within 60 days after the date of receipt of payment of the mortgage by the mortgagee in accordance with a payoff statement furnished by the mortgagee or its mortgage servicer, an authorized officer of a title insurance company may, on behalf of the mortgagor or a transferee of the mortgagor who acquired title to the property described in the mortgage, execute an affidavit that complies with the requirements of this section and record the affidavit in the real property records of each county in which the mortgage was recorded.

(d) An affidavit executed under this section must state that:

(1) the affiant is an authorized officer of a title insurance company;

(2) the affidavit is made on behalf of the mortgagor or a transferee of the mortgagor who acquired title to the property described in the mortgage;

(3) the mortgagee provided a payoff statement with respect to the loan secured by the mortgage;

(4) the affiant has ascertained that the mortgagee has received payment of the loan secured by the mortgage in accordance with the payoff statement, as evidenced by:

(A) a bank check, certified check, escrow account check from the title company or title insurance agent, or attorney trust account check that has been negotiated by the mortgagee; or

(B) another documentary evidence of the receipt of payment by the mortgagee;

(5) more than 60 days have elapsed since the date payment was received by the mortgagee;

(6) the title insurance company or its agent has given the mortgagee at least 15 days' notice in writing of its intention to execute and record an affidavit in accordance with this section, with a copy of the proposed affidavit attached to the written notice; and

(7) the mortgagee has not responded in writing to the notification, or a request for additional payment made by the mortgagee has been complied with at least 15 days before the date of the affidavit.

(e) The affidavit must include the names of the mortgagor and the mortgagee, the date of the mortgage, and the volume and page or clerk's file number of the real property records where the mortgage is recorded, together with similar information for a recorded assignment of the mortgage.

(f) The affiant must attach to the affidavit a photostatic copy, certified as a true copy of the original document, of:

(1) the documentary evidence that payment has been received by the mortgagee, including the mortgagee's endorsement of a negotiated check if paid by check; and

(2) the payoff statement.

(g) An affidavit that is executed and recorded as provided by this section operates as a release of the mortgage described in the affidavit.

(h) The county clerk shall index the affidavit in the names of the original mortgagee and the last assignee of the mortgage appearing of record as the grantors and in the name of the mortgagor as grantee.

(i) A person who knowingly causes an affidavit with false information to be executed and recorded under this section is liable for the penalties for filing a false affidavit, including the penalties for commission of offenses under Section 37.02 PROP. of the Penal Code, and to a party injured by the affidavit for actual damages or $5,000, whichever is greater. The attorney general may sue to collect the penalty. If the attorney general or an injured party bringing suit substantially prevails in an action under this subsection, the court may award reasonable attorney's fees and court costs to the prevailing party.