Assignment of Mortgage, Assignment of Rents and Leases, Assignment of Vendors Lien
An assignment is an instrument in which a mortgage holder transfers his interest in a mortgage to another.
The document must have the following information:
- First party (assignor) KRS 382.290
- Second party (assignee) and their mailing address KRS 382.290(5), KRS 382.430 (2), KRS 382.335
- Name of the party(ies) that executed the original mortgage KRS 382.290
- The mortgage book and page reference where the mortgage is lodged for record KRS 382.290
- Preparation statement KRS 382.335
- Date of the instrument (date the document was signed) (KRS 382.290)
- The document must be signed by the assignor and notarized. (KRS 382.290(2).
- The clerk shall request a return mail address (KRS 382.240)
At the option of the clerk, the document may be linked to its respective referenced instrument in the indexing system (KRS 382.290 (5), or they make make a marginal entry or notation. (One or the other is required by law)
IMPORTANT NOTE: Per KRS 382.290(6) No holder of a note secured by lien retained in either deed or mortgage shall lodge for record, and no clerk or deputy clerk shall receive and permit to be lodged for record, any deed or instrument of writing that does not comply with the provisions of this section.
This means an assignment shall not be lodged with the clerk or deputy clerk without the clerk or deputy clerk verifying the assignor is the legal holder, and the book and page of the document to be assigned, is the correct document. See Penalties sections KRS 382.990.
Each document should only have one mortgage book and page reference per assignment.