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Document Id : 7499
File Type : Microsoft Word
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California Deed of Trust and Assignment of Rents and Request for Notice
Transfer a mortgaged real estate property in California to a trustee corporation with this Deed of Trust and Assignment of Rents and Request for Notice form.
- The trustee corporation will hold the property on behalf of the mortgage lender, as security to ensure the property owner's performance of its obligations.
- The trustor (property owner) must provide the lender with proof of satisfactory fire insurance coverage naming the lender as loss payee.
- The trustor is responsible for maintenance and upkeep of the property, and for paying all taxes and charges as they come due.
- The trustor assigns to the lender the right to collect any rents and profits from the mortgaged property.
- The trustor requests copies of any notice of default or sale, in accordance with Section 2924b of the California Civil Code.
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