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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Assignment of Rents Posted by Tom on November 27, 2009 at 10:57 AM Question for group, searched the forum and couldnt find answer to particular situation I have. 1. I have a third trust deed (about 7 years old) on a San Diego property. 2. I just used a short form deed of trust and have no mention of assignment of rents (I know, mistake, and all my recent TDs are better worded). The trust deed just references power of sale and then it does have the clause "together with the issues and profits thereof" and references the SD Fictitious Deed of Trust 3. The second lien is a small $6K loan secured by a trust deed that does have assignment of rents. This lienholder (family member of borrower) would work with me over their family member. My trust deed is much larger. Two questions: 1. Does my TDs language, either the "issues and profits thereof" or the fictitious deed of trust, provide me the assignment of rents benefit? 2. If not to # 1, ss there a process to get an assigment of rents benefit after the fact without borrower doing it voluntarily? 3. Since the second TD has assignment of rents, a. Can I purchase that note and get assignment of rents benefit for both notes? b. If not, can I and the second lien holder come to agreement for them to subordinate to me without going thru borrower? If we did that, since their language allows them to protect their position with anything senior to them, wouldnt the assignment of rents clause cover both notes? And then of course I could buy out their note. Any ideas and suggestions would be greatly appreciated. Follow Ups: Not to fret... Ward-CA- 6:41 AM, 11/28/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Question for group, searched the forum and couldnt find answer to particular situation I have. : 1. I have a third trust deed (about 7 years old) on a San Diego property. : 2. I just used a short form deed of trust and have no mention of assignment of rents (I know, mistake, and all my recent TDs are better worded). The trust deed just references power of sale and then it does have the clause "together with the issues and profits thereof" and references the SD Fictitious Deed of Trust : 3. The second lien is a small $6K loan secured by a trust deed that does have assignment of rents. This lienholder (family member of borrower) would work with me over their family member. : My trust deed is much larger. : Two questions: : 1. Does my TDs language, either the "issues and profits thereof" or the fictitious deed of trust, provide me the assignment of rents benefit? : 2. If not to # 1, ss there a process to get an assigment of rents benefit after the fact without borrower doing it voluntarily? : 3. Since the second TD has assignment of rents, : a. Can I purchase that note and get assignment of rents benefit for both notes? : b. If not, can I and the second lien holder come to agreement for them to subordinate to me without going thru borrower? If we did that, since their language allows them to protect their position with anything senior to them, wouldnt the assignment of rents clause cover both notes? And then of course I could buy out their note. : Any ideas and suggestions would be greatly appreciated. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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