Assignment of Mortgages 

An assignment is when one person gives their rights under a mortgage to another person. The new owner inherits the same rights as the original owner, subject to Florida property law. The assignment should be recorded.

The right of the mortgagee to assign the mortgage is specifically recognized by the Florida statutes. F.S.A. § 701.01 provides:

Any mortgagee may assign and transfer any mortgage made to her or him, and the person to whom any mortgage may be assigned or transferred may also assign and transfer it, and that person or her or his assigns or subsequent assignees may lawfully have, take and pursue the same means and remedies which the mortgagee may lawfully have, take or pursue for the foreclosure of a mortgage and for the recovery of the money secured thereby.

Mortgages consist of two main documents: the note and the mortgage agreement. The note is the actual debt, while the mortgage is a supporting document.  Without the note, the assignment is invalid. When someone assigns a mortgage, they don’t transfer land ownership. 

Contact Top Florida Foreclosure Defense Attorney 

Andrew Pascale is an experienced foreclosure defense lawyer and can scrutinize any assignment of mortgage at issue. If your home is at risk of foreclosure, contact Andrew J. Pascale at 877-667-1211.