Tennessee Assignment of Deed of Trust

Tennessee Assignment of Deed of Trust Information

This form is used by the current lender/beneficiary to Assign/transfer a Deed of Trust and Promissory Note to another party, this is usually done when a note has been sold.
Recording requirements include:
- Assignor & assignee
- Debtor's name
- Reference original Volume & Page of assigned document
- Maximum Principal Indebtedness for Tennessee Recording Tax Purposes is $0 (If amount is listed taxes must be paid)

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 Deed of Trust" forms.

The Truth and lending act requires that borrowers be notified when their Deed of Trust debt 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.

For use in Tennessee only.

Deeds.com Tennessee Assignment of Deed of Trust Forms Have Been Updated as Recently as Monday March 20, 2023

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