Use this form to transfer a Deed of Trust to another party. The holder of the Deed of Trust becomes the Assignor and transfers rights to the Assignee, this is usually done when a Deed of Trust has been sold. An Assignment of Deed of Trust (secured by a Deed of Trust or other lien of record, shall be entered on the margin of the record of the lien or said assignment shall be acknowledged and filed for record.) (Except as provided in Section 89-5-37) (89-5-17). [The assignment or transfer of a secured indebtedness need not be filed for record nor entered on the margin of the record if the holder thereof is represented by an agent, trustee or the like disclosed as beneficiary in the mortgage or deed of trust.] [MS Code 89-5-37]

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 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.

(Mississippi Assignment of DOT Package includes form, guidelines, and completed example) For use in Mississippi only.

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