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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 112765
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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If you have a company that owns realestate notes or other

Customer Question

If you have a company that owns realestate notes or other assets and you wish to assign it to another company. can you just do a general assignment to the other company and record it in each county involved. if so is that legal for the banks to use so you can deposit payments into the new company name that is made out to the other company
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 6 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Yes, if you want to assign assets and notes to some other company, a general assignment to the other company specifying what is being assigned is generally sufficient. The assignments are then recorded against the deed in the appropriate property offices in the proper counties. If the assignment assigns the proceeds to the new company, that should be sufficient for the banks to accept those payments.