Legal Question in Securities Law in California

mortgage loans

When a lender purchases a loan is he legally responsable to record the assignment of benefical interest and in what time frame?


Asked on 1/08/08, 6:26 pm

1 Answer from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: mortgage loans

Recording of the assignment is permissive, not mandatory (Civil Code section 2934 says "may record") and if recorded, the record is not, of itself, notice to the borrower (Civil Code section 2935).

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Answered on 1/08/08, 8:15 pm


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