Definitions for "assignment of rents"
A written document which transfers to a mortgagee upon default the owners right to collect rent.
an instrument whereby the mortgagor assigns to the mortgagee, as additional security for the payment of the mortgage debt, all of the mortgagor's interest in the existing and future leases and rents thereof pertaining to the mortgaged property
A written agreement wherein the owner of a property transfers to another party-usually a mortgagee or creditor-possession of the property (but not its ownership) and the right to collect rents, manage the property, and apply the net income toward delinquent mortgage payments.
Assignor