The collateral assignment of leases is an agreement which establishes the ownership rights transfer of an asset as part of security against loan. Generally the loan transactions pertaining to real estate or property need a certain security along with the mortgage deed to support the loan. Lenders often look for a secure transaction where they can safeguard their money by acquiring the collateral assignment from the borrower as the security for the loan.
The lenders dealing with mortgages look out for security for the loan along with the deed of trust or mortgage, and the common practice for this is to acquire a collateral assignment from the borrower of the land, as any rental payment which owner (the borrower in this case) is entitled of receiving from any of his tenants that are having any lease interest in his property. This kind of rent assignments are quite common in the commercial loan sector while are rarely viewed in the housing or residential loans.
Collateral Assignment of Leases Agreement
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