§ 55.1-336 — Protection of assignees or transferees of debts secured by real estate; form of certificate of transfer

Virginia § 55.1-336

• Jurisdiction: Virginia
• Title 55.1: Property and Conveyances
• Subtitle I: Property Conveyances
• Ch. 3: Form and Effect of Deeds and Covenants; Liens
• Art. 2: Form and Effect of Deeds of Trust; Sales Thereunder; Assignments; Releases

Text

Whenever a debt or other obligation secured by a deed of trust, mortgage, or vendor's lien on real estate has been assigned, the assignor or the assignee, at its option, may cause the instrument of assignment to be recorded in the clerk's office of the circuit court where such deed of trust, mortgage, or vendor's lien is recorded, provided that such instrument is otherwise in recordable form, or may cause a certificate of transfer signed by the assignor to be recorded in such clerk's office, and such instrument of assignment or certificate of transfer, upon recordation, shall operate as a notice of such assignment. The instrument of assignment or certificate of transfer shall be indexed in the name of the assignor and in the names of the obligor or maker, and the trustees, as applicable, all of whose names shall be set forth in such instrument or certificate. The certificate of transfer shall conform substantially to the following:

CERTIFICATE OF TRANSFER

Place of Record:

Clerk's Office of the Circuit Court of the ________ of ________, Virginia

Date of [Deed of Trust/Mortgage/Vendor's Lien]: ________,

Deed Book ________, Page ____

Name of Obligor or Maker:

________________

Name(s) of Trustee(s) [if a Deed of Trust]:

________________

________________

Name of Original Payee or Obligee:

________________

Original Amount Secured [if applicable]: $____

The undersigned, the original payee or obligee [or the subsequent assignee] of the obligation secured by the above-mentioned [Deed of Trust/Mortgage/Vendor's Lien], hereby certifies that the obligations secured thereby have been assigned to ______

________________

[If a credit line deed of trust, the name and address to which notice may be mailed or delivered to the Noteholder as provided by § 55.1-318 is as follows:

________________

________________ ]

Given under (my/our) hand(s) as of the ______ day of ________, ____.

________________

(Assignor)

______ of ______

County/City of ________, to wit:

Subscribed, sworn to, and acknowledged before me by ________ this ______ day of ________, 20__.

My Commission Expires: ________

________________

Notary Public

Notary Registration Number: ________

For purposes of this section, the word "assigned" includes endorsed, pledged, hypothecated, or otherwise transferred. Nothing in this section shall be deemed to invalidate any other form or notice of assignment that may have been recorded prior to July 1, 1994. Nothing in this section shall imply that recordation of the instrument of assignment or a certificate of transfer is necessary in order to transfer to an assignee the benefit of the security provided by the deed of trust, mortgage, or vendor's lien.

Legislative History

1994, c. 806, § 55-66.01; 1995, c. 807; 1997, c. 205; 2019, c. 712.