How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 118175
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

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: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year 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.