Summit County Assignment of Mortgage Forms (Ohio)

Form Package

Assignment of Mortgage

State

Ohio

Area

Summit County

Price

$27.97

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Included Forms

All Summit County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following Ohio and Summit County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Assignment of Mortgage Forms:

• Summit County

Including:

• Akron
• Barberton
• Bath
• Clinton
• Cuyahoga Falls
• Fairlawn
• Green
• Hudson
• Lakemore
• Macedonia
• Munroe Falls
• Northfield
• Peninsula
• Richfield
• Stow
• Tallmadge
• Twinsburg

What is the Ohio Assignment of Mortgage

Use this form to assign and transfer an existing mortgage to another party, this is often done when a mortgage has been sold. This form is considered (by a separate instrument).

5301.28 Release of mortgage - assignment.

When the mortgagee of property within this state, or the party to whom the mortgage has been assigned, either (by a separate instrument), or in writing on that mortgage, or on the margin of the record of the mortgage, which assignment, if in writing on the mortgage or on the margin of the record of the mortgage, need not be acknowledged, receives payment of any part of the money due the holder of the mortgage, and secured by the mortgage, and enters satisfaction or a receipt for the payment, either on the mortgage or its record, that satisfaction or receipt, when entered on the record, or copied on the record from the original mortgage by the county recorder, will release the mortgage to the extent of the receipt. In all cases when a mortgage has been assigned in writing on that mortgage, the recorder shall copy the assignment from the original mortgage upon the margin of the record of the mortgage before the satisfaction or receipt is entered upon the record of the mortgage.

In a county in which the county recorder has determined to use the microfilm process as provided by section 9.01 of the Revised Code, the county recorder may require that all satisfactions of mortgages be made by separate instrument. The original instrument bearing the proper endorsement may be used as such a separate instrument. That separate instrument shall be recorded in the county recorder's official records.

Current Borrowers must be notified of the assignment. Notification consists of contact information of the new creditor, recording dates, recording instrument numbers, changes in loan, etc. Included are "Notice of Assignment of Mortgage" forms.

The Truth and lending act requires that borrowers be notified when their Mortgage has been sold, transferred, or assigned to a new creditor. Generally, within 30 days to avoid up to $2,000.00 in statutory damages, plus reasonable attorney's fees. Systematic violations can reach up $500,000.00.

(Ohio Assignment of Mortgage Package includes form, guidelines, and completed example) For use in Ohio Only.

Our Promise

The documents you receive here will meet, or exceed, the Summit County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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