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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Difference between an ABI and an ABT... Posted by Ward-CA- on October 28, 2003 at 11:52 AM In Reply to: paperwork posted by SteveG on October 28, 2003 at 1:20 AM : Ward, : Is the Assignment of Trust Deed and the Assignment of Beneficial Interest (ABI)synonymous? Also, what is a quick checkist of docs for a successful junior bene buyout? Thanks. : -=-=-=-=-=-=-=-=-=-=-=-=- SteveG, No, the Assignment of Deed of Trust and the Assignment of Beneficial Interest in Trust are not synonymous. I can see where it's easy to mix them up The Assignment of Deed of Trust is used to change the beneficial interest in a recorded Deed of Trust from the current owner to a new owner. The assignment is signed in front of a notary public and recorded in the county recorder's office. The Assignment of Beneficial Interest in Trust is used to change the holding of the beneficial interest in a trust (such as a title holding trust or land trust) from the current owner to a new owner. Though the assignment may be notarized, it is not recorded since recording it would vitiate the privacy of the new beneficiary. The forms used to transact a junior bene buyout are as follows: 1. Assignment of Deed of Trust 2. Notice of Assignment of Deed of Trust 3. Beneficiary's Statement of Account Optional forms: 4. Assignment of Note 5. Loan Sale Agreement 6. Transmittal Memo Hope this helps. Follow Ups: when is a note holder to contact the owner of an assignment of deed of trust? Can a copy of the check used in the transfer be requested by owner? How long after payment is made should the paper work for the transfer be done? tankard 8:50 AM, 11/13/03 (1) Can you give me an example?? Ward-CA- 4:29 PM, 11/13/03 (0) Re: Difference between an ABI and an ABT... Dave 1:28 PM, 10/28/03 (1) Note assignment not essential... Ward-CA- 2:01 PM, 10/29/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Is the Assignment of Trust Deed and the Assignment of Beneficial Interest (ABI)synonymous? Also, what is a quick checkist of docs for a successful junior bene buyout? Thanks. : : : -=-=-=-=-=-=-=-=-=-=-=-=- : SteveG, : No, the Assignment of Deed of Trust and the Assignment of Beneficial Interest in Trust are not synonymous. I can see where it's easy to mix them up : The Assignment of Deed of Trust is used to change the beneficial interest in a recorded Deed of Trust from the current owner to a new owner. The assignment is signed in front of a notary public and recorded in the county recorder's office. : The Assignment of Beneficial Interest in Trust is used to change the holding of the beneficial interest in a trust (such as a title holding trust or land trust) from the current owner to a new owner. Though the assignment may be notarized, it is not recorded since recording it would vitiate the privacy of the new beneficiary. : : The forms used to transact a junior bene buyout are as follows: : 1. Assignment of Deed of Trust : 2. Notice of Assignment of Deed of Trust : 3. Beneficiary's Statement of Account : Optional forms: : 4. Assignment of Note : 5. Loan Sale Agreement : 6. Transmittal Memo : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ 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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