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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] 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? Posted by tankard on November 13, 2003 at 8:50 AM In Reply to: Difference between an ABI and an ABT... posted by Ward-CA- on October 28, 2003 at 11:52 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: Can you give me an example?? Ward-CA- 4:29 PM, 11/13/03 (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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