Detroit Michigan Assignment of Leases and Rents
Category:
State:
Multi-State
City:
Detroit
Control #:
US-RE-A-10110-4
Format:
Word;
Rich Text
Instant download
Description
The assignment of leases and rents, also known as the assignment of leases rents and profits, is a legal document that gives a mortgage lender right to any future profits that may come from leases and rents when a property owner defaults on their loan. This document is usually attached to a mortgage loan agreement.
Assignment of leases and rents allows lenders to a degree of financial protection in case a loan default occurs. This document is an agreement made between a borrower and a lender of mortgage loans. It often details an exact amount the lender will be entitled to if a default happens.
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