Delaware Assignment of Mortgage

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                             This is an agreement whereby the lender of a mortgage transfers all of its rights and
                             responsibilities to a new lender. The borrower does not change and its rights and
                             responsibilities remain the same under this agreement. The new lender assumes the role
                             of the original lender by receiving payments and has the power to foreclose on the property,
                             if necessary. It contains both standard clauses as well as opportunities for customization to
                             ensure that the understandings of the parties are properly set forth. This document is ideal
                             for lenders located in Delaware that want to purchase or sell a mortgage on a specific piece
                             of property.
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                             ASSIGNMENT OF MORTGAGE

THIS ASSIGNMENT OF MORTGAGE (hereinafter “Agreement”) is made this _____ [Month]
_____ [Date], 20____ by __________________________ [Instruction: Insert name of
assignor], located at __________________________ [Instruction: Insert the address of
assignor] (hereinafter "Assignor") to __________________________ [Instruction: Insert
name of assignee], located at __________________________ [Instruction: Insert the address
of assignee] (hereinafter "Assignee"). Assignor and Assignee may individually be referred to as
“Party”, or, collectively as “Parties”.

       WHEREAS, __________________________ [Instruction: Insert name of borrower]
(hereinafter “Borrower”) executed a mortgage on _____ [Month] _____ [Date], 20____, in
favor of Assignor (the “Mortgage”);

      WHEREAS, Assignor desires to assign, transfer, sell and convey to Assignee all of
Assignor's right, title and interest in, to and under the Mortgage;

       WHEREAS, Assignee desires to receive all of Assignor's right, title and interest in, to
and under the Mortgage;

       NOW THEREFORE, the Parties wish to execute this Agreement on the terms and
conditions set forth below:

TERMS:

1. ASSIGNMENT

   For and in consideration of ___________ ($____) [◊ Instruction: Insert the consideration
   amount, e.g., five thousand dollars ($5,000)], the receipt and sufficiency of which is hereby
   acknowledged, Assignor hereby grants, assigns and transfers to Assignee that certain
   Mortgage executed by _______________________ [Instruction: Insert name of
   borrower], and dated, _____ [Month] _____ [Date], 20____, and recorded in
   __________________________ [Instruction: Insert the name of Recording Offices], in
   ______________________ [Instruction: Insert the City], ________________ [Instruction:
   Insert the State], in _________________ [Instruction: Insert the name of Book of
   Records], at page _______ [Instruction: Insert the page number], together with the note
   described therein and the money to become due thereon with the interest provided therein.

2. APPLICABLE LAW

   This Agreement shall, in all respects, be governed by the laws of the State of Delaware
   applicable to agreements executed and to be wholly performed within the state of Delaware.
3. SEVERABILITY

   Nothing contained herein shall be construed so as to require the commission of any act
   contrary to law, and wherever there is any conflict between any provision contained herein
   and any present or future statute, law, ordinance or regulation contrary to which the Parties
   have no legal right to contract, the latter shall prevail but the provision of this Agreement
   which is affected shall be curtailed and limited only to the extent necessary to bring it within
   the requirements of the law.

4. ENTIRE AGREEMENT
				
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Description: This is an agreement whereby the lender of a mortgage transfers all of its rights and responsibilities to a new lender. The borrower does not change and its rights and responsibilities remain the same under this agreement. The new lender assumes the role of the original lender by receiving payments and has the power to foreclose on the property, if necessary. It contains both standard clauses as well as opportunities for customization to ensure that the understandings of the parties are properly set forth. This document is ideal for lenders located in Delaware that want to purchase or sell a mortgage on a specific piece of property.
This document is also part of a package Essential Delaware Legal Documents 142 Documents Included