Free Assignment of Leases and Rents
A document attached to a mortgage/deed of trust and loan agreement which entitles the lender to any income derived from the rental property once the debtor defaults on the loan.
Build your selected document.
Answer a few simple questions with step-by-step instructions.
Print & download forms instantly. Sign & make it legal.
When an income producing property becomes collateral for a loan, the mortgage/deed of trust used does not always extend the security interest to the leases and receipt of rent associated with that income producing property. As a business-savvy lender, you recognize that the receipt of rent will make things easier for you by keeping a flow of money coming when the borrower defaults. What you can do to accomplish this is execute an Assignment of Leases and Rents.