Assignment of Deed of Trust and Note (Commercial) (NC)

This template is an assignment of deed of trust and note that may be used to assign and transfer an existing deed of trust on North Carolina real property from the current lender to a new lender. This template includes practical guidance and drafting notes. Assignment of deeds of trust should be recorded in the same place as the deed of trust was originally recorded, which is in the office of the county clerk in the county where the subject property is located. See N.C. Gen. Stat. § 47-20.1. With respect to formatting, North Carolina law states that the recorder's office may charge an additional fee if a document submitted for recording does not comply with the following requirements: • Be on 8.5 x 11 or 8.5 x 14 inch white paper • Contain legible print • Be in black ink typed or printed in a font size no smaller than 9 points • Have a three-inch blank margin at the top of the first page • Have blank margins of at least one-half inch on the remaining sides of the first page and on all ...

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2019 North Carolina General Statutes Chapter 45 - Mortgages and Deeds of Trust Article 4 - Satisfaction. § 45-42.3 - Automatic release of real property from ancillary security instruments.

45-42.3. Automatic release of real property from ancillary security instruments.

(a) The following definitions shall apply in this section:

(1) Ancillary security instrument. - An assignment of leases with respect to the real property, an assignment of rents from or arising out of the real property, a financing statement covering fixtures on the real property that is filed in the office of the register of deeds in the county in which the real property is located, and any other document or instrument that assigns, or creates a lien on, an interest in the real property.

(2) Real property. - The real property described in and encumbered by the lien of a security instrument.

(b) Except as provided in subsection (c) of this section, (i) the expiration of the lien of a security instrument pursuant to G.S. 45-36.24 or the satisfaction of a security instrument of record pursuant to G.S. 45-37 shall be deemed automatically to release the real property from the operation of all ancillary security instruments that secure the same obligation or obligations secured by the security instrument and (ii) the recording of a partial release pursuant to G.S. 45-36.22 or the recording of a deed of release shall be deemed automatically to release the real property described in the partial release or deed of release from the operation of all ancillary security instruments that secure the same obligation or obligations secured by the security instrument.

(c) Subsection (b) of this section shall not apply to an ancillary security instrument if (i) the ancillary security instrument secures obligations other than, or in addition to, the obligation or obligations secured by the security instrument; (ii) the security instrument, the ancillary security instrument, or the document recorded in the office of the register of deeds to satisfy the security instrument of record expressly states that the satisfaction of the security instrument of record shall not release the real property from the operation of that particular ancillary security instrument or from ancillary security instruments in general; or (iii) the security instrument, the ancillary security instrument, the partial release, or the deed of release expressly states that the partial release or deed of release shall not release real property from the operation of that particular ancillary security instrument or ancillary security instruments in general.

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IMAGES

  1. Fillable Online NC Deed of Trust Fax Email Print

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  2. North Carolina Partial Release of Property From Deed of Trust for

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  3. Ashe County Assignment of Deed of Trust Forms

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  4. North Carolina Deed of Trust Form

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  5. Example of what to record on a deed of trust: Fill out & sign online

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COMMENTS

  1. PDF § 47-17.2. Assignments of mortgages, deeds of trust, or other

    recordation of a written assignment of a deed of trust, mortgage, or other security instrument, with or without the promissory note or other instrument that it secures, provided that the assignment complies with applicable law. (1993, c. 288, s. 4.) Created Date: 1/19/2023 1:17:10 PM ...

  2. 2005 North Carolina Code

    North Carolina General Statutes § 47-17.2. Assignments of mortgages, deeds of trust, or other agreements pledging real property as security. :: Chapter 47 — Probate and Registration. :: 2005 North Carolina Code :: North Carolina Code :: US Codes and Statutes :: US Law :: Justia

  3. North Carolina Assignment of Deed of Trust Forms

    Select County Where the Property is Located This form is used by a beneficiary/lender who can be a corporation or individual to assign deed of trust and promissory note to another entity/corporation or individual. This is commonly done when a deed of trust has been sold.

  4. North Carolina General Statutes § 47-20. Deeds of trust, mortgages

    North Carolina General Statutes § 47-20. Deeds of trust, mortgages, conditional sales contracts, assignments of leases and rents; effect of registration. :: Chapter 47 — Probate and Registration. :: 2005 North Carolina Code :: North Carolina Code :: US Codes and Statutes :: US Law :: Justia

  5. North Carolina General Statutes Chapter 45. Mortgages and Deeds of

    North Carolina General Statutes Chapter 45. Mortgages and Deeds of Trust § 45-42.3. Automatic release of real property from ancillary security instruments Current as of January 01, 2023 | Updated by (a) The following definitions shall apply in this section:

  6. PDF § 45-45.3. Trustee in a deed of trust.

    Except in matters relating to the foreclosure of the deed of trust or the exercise of a power of sale under the terms of the deed of trust, the trustee is neither a necessary nor a proper party to any civil action or proceeding involving (i) title to the real property encumbered by the lien of the deed of trust or (ii) the priority of the lien o...

  7. PDF TOPIC: Deeds of Trust

    Required elements for a document to be an insurable Deed of Trust: Must be in writing. Must be dated, the same date as the Note. Grantor must be named and be ALL of the owners of the property. This includes all ownership interests, such as spouses, life tenants and remaindermen.

  8. Assignment of Deed of Trust and Note (Commercial) (NC)

    Assignment of deeds of trust should be recorded in the same place as the deed of trust was originally recorded, which is in the office of the county clerk in the county where the subject property is located. See N.C. Gen. Stat. § 47-20.1. With respect to formatting, North Carolina law states that the recorder

  9. PDF NORTH CAROLINA DEED OF TRUST

    TO HAVE AND TO HOLD said Premises with all privileges and appurtenances thereunto belonging, to said Trustee, his heirs, successors, and assigns forever, upon the trusts, terms and conditions, and for the uses hereinafter set forth. If the Grantor shall pay the Note secured hereby in accordance with its terms, together with interest thereon ...

  10. Clay County Assignment of Deed of Trust Forms (North Carolina)

    Form Package Assignment of Deed of Trust State North Carolina Area Clay County Price $27.97 Delivery Immediate Download Email: Credit Card Type Expiration Year Included Forms All Clay County specific forms and documents listed below are included in your immediate download package: Assignment of Deed of Trust Form

  11. North Carolina Assignment and Satisfaction of Mortgage Law

    Assignment: An assignment must be in writing and recorded. Demand to Satisfy: A petitioner may recover damages under this section only if he has given the mortgagee, obligee, beneficiary or other responsible party written notice of his intention to bring an action pursuant to this section.

  12. North Carolina General Statutes § 45-45.3 (2022)

    2022 North Carolina General Statutes Chapter 45 - Mortgages and Deeds of Trust Article 5 - Miscellaneous Provisions. § 45-45.3 - Trustee in a deed of trust. ... Unless the deed of trust provides otherwise, all of the following may be done without the knowledge, consent, or joinder of the trustee: (1) Pursuant to G.S. 45-36.23, an obligation ...

  13. PDF Chapter 45. Mortgages and Deeds of Trust. to action

    In every such case of renunciation the clerk of the superior court of any county wherein the said mortgage or deed of trust is registered has power and authority, upon proper proceedings instituted before him, as in other cases of special proceedings, to appoint some person to act as trustee and execute said mortgage or deed of trust.

  14. Montgomery County Assignment of Deed of Trust Forms

    $27.97 Delivery Immediate Download Expiration Year Included Forms All Montgomery County specific forms and documents listed below are included in your immediate download package: Assignment of Deed of Trust Form Fill in the blank form formatted to comply with all recording and content requirements. Included document last reviewed/updated 1/16/2024

  15. North Carolina Deed of Trust

    A North Carolina Deed of Trust — Assignment is a legal document used in real estate transactions to transfer the interest or ownership of a property from one party to another. It is commonly used when a lender wants to transfer the rights and obligations of the original Deed of Trust to a new entity or individual. When a lender assigns a Deed ...

  16. Deed Of Trust: What It Is And How It Works

    The three parties involved in a deed of trust for a real estate transaction are a: Trustor. This is the person whose assets are being held in the trust, also known as the borrower (i.e.,...

  17. North Carolina Assignment of Deed of Trust by Individual Mortgage

    Upon exhibition of the deed of trust, and the evidences of indebtedness properly marked, the register of deeds shall cancel such deed of trust by recording a record of satisfaction as described in G.S. 45-37.2, and may make an entry of satisfaction upon the margin of the record, which record, or entry if made, shall be valid and binding upon ...

  18. General Statute Sections

    2. Article 2 - Right to Foreclose or Sell under Power. G.S. 45-4 § 45-4. Representative succeeds on death of mortgagee or trustee in deeds of trust; parties to action. G.S. 45-5 § 45-5. Foreclosures by representatives validated. G.S. 45-6 § 45-6. Renunciation by representative; clerk appoints trustee. G.S. 45-7 § 45-7.

  19. Henderson County Assignment of Deed of Trust Forms

    What is the North Carolina Assignment of Deed of Trust. This form is used by a beneficiary/lender who can be a corporation or individual to assign deed of trust and promissory note to another entity/corporation or individual. This is commonly done when a deed of trust has been sold. (The assignee of the note shall have the right to enforce all ...

  20. North Carolina Assignment of Deed of Trust

    The Assignment of Deed of Trust is an essential step in the lending process as it ensures the legal transfer of the mortgage lien to the new creditor. In North Carolina, there are various types of Assignment of Deed of Trust that serve different purposes. Some of these may include: 1. Absolute Assignment: This type of assignment involves the ...

  21. Free North Carolina Deed of Trust Form

    A North Carolina deed of trust is a real estate transfer instrument between a lender, borrower, and a trustee whereby a property title is transferred as collateral for a loan to purchase real estate.The title is maintained by the trustee until the borrower (property owner) returns the entire loan amount to the lender. Should a loan default occur, the lender could initiate the non-judicial ...

  22. North Carolina General Statutes § 45-42.3 (2019)

    2019 North Carolina General Statutes Chapter 45 - Mortgages and Deeds of Trust Article 4 - Satisfaction. § 45-42.3 ... An assignment of leases with respect to the real property, an assignment of rents from or arising out of the real property, a financing statement covering fixtures on the real property that is filed in the office of the ...

  23. Corporate Assignment Of Deed Of Trust

    Make sure the North Carolina Assignment of Deed of Trust by Corporate Mortgage Holder is eligible for use in your state. ... In North Carolina, a deed of trust or mortgage acts as a conveyance of the real estate.Under a deed of trust, the borrower (called the "grantor") conveys legal title to the real estate to a third party (called the ...