What is an assignment of a deed of trust?

An assignment of a deed of trust is an important document used in real estate transactions in California. It is a legal document that assigns the rights of a deed of trust from one person or entity to another. This document is typically used when a property is being transferred from one owner to another. When the deed of trust is assigned, the borrower (the owner of the property) grants the lender (the bank, for example) the right to enforce the terms of the deed of trust by foreclosing on the property if the borrower does not meet the obligations of the loan. The deed of trust is a type of mortgage and it is transferred with the property. The assignment of the deed of trust can also be used when a property is refinanced. In this case, the deed of trust is assigned to a different lender and the new loan documents must be assigned to the new lender. The assignment of the deed of trust is important as it creates a new loan agreement and security interest between the borrower and the lender. The deed of trust also creates a lien on the property that serves as additional security in the event that the borrower defaults on the loan.

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