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Mortgage Assignment Agreement Template for Ireland

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Key Requirements PROMPT example:

Mortgage Assignment Agreement

"I need a Mortgage Assignment Agreement under Irish law for transferring a commercial property mortgage from ABC Bank to XYZ Investment Fund, with completion scheduled for March 15, 2025, including specific provisions for regulatory reporting as the assignee is a regulated credit servicing firm."

Document background
The Mortgage Assignment Agreement is a crucial document in Irish financial and property transactions, used when transferring mortgage rights and obligations between financial institutions or investors. This agreement is commonly utilized in loan portfolio sales, bank restructuring, securitization transactions, or when reorganizing mortgage assets. The document must comply with Irish legal requirements, including the Land and Conveyancing Law Reform Act 2009, Registration of Title Act 1964, and relevant consumer protection legislation. It includes detailed provisions for the transfer of the mortgage, associated rights and security interests, and necessary regulatory notifications. The agreement becomes particularly important in the context of Irish banking sector restructuring, non-performing loan portfolio sales, and mortgage securitization transactions.
Suggested Sections

1. Parties: Identifies the Assignor (current mortgage holder), Assignee (party receiving the mortgage rights), and where relevant, acknowledgment by the Borrower

2. Background: Recites the original mortgage agreement details, the Assignor's right to assign, and the purpose of the assignment

3. Definitions: Defines key terms used throughout the agreement, including 'Mortgage', 'Property', 'Loan Agreement', 'Effective Date', and other relevant terms

4. Assignment: Core section detailing the transfer of rights, title, and interest in the mortgage from Assignor to Assignee

5. Consideration: Specifies the payment or other consideration for the assignment

6. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, status of the mortgage, and absence of encumbrances

7. Completion Requirements: Details the actions required to complete the assignment, including registration requirements and document delivery

8. Further Assurance: Commitment to execute additional documents and take necessary steps to perfect the assignment

9. Notices: Specifies how and where notices between parties should be delivered

10. Governing Law and Jurisdiction: Confirms Irish law as governing law and Irish courts' jurisdiction

11. Execution: Formal execution block for all parties to sign

Optional Sections

1. Data Protection: Required when personal data is being transferred as part of the assignment, ensuring GDPR compliance

2. Consumer Protection Provisions: Required when the mortgage relates to a residential property or consumer borrower

3. Security Trust Provisions: Used when the assignment involves multiple lenders or syndicated facilities

4. Transfer of Related Rights: Included when additional security or collateral rights need to be transferred

5. Central Bank Requirements: Required when either party is regulated by the Central Bank of Ireland

6. Set-off Rights: Optional provisions regarding the right to set off debts between parties

7. Costs and Expenses: Optional section detailing responsibility for costs of the assignment

Suggested Schedules

1. Schedule 1 - Details of the Mortgage: Comprehensive details of the mortgage being assigned, including date, parties, property description, and registration details

2. Schedule 2 - The Property: Detailed description of the mortgaged property, including folio numbers and physical description

3. Schedule 3 - Form of Notice to Borrower: Template notice to be sent to the borrower informing them of the assignment

4. Schedule 4 - Outstanding Amount: Details of the outstanding mortgage amount and payment history

5. Schedule 5 - Related Security Documents: List and copies of any related security documents being transferred

6. Appendix A - Copy of Original Mortgage Deed: Copy of the original mortgage deed and any modifications

7. Appendix B - Registration Requirements: Specific forms and requirements for registering the assignment with relevant authorities

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
















































Clauses



























Relevant Industries

Banking

Financial Services

Real Estate

Mortgage Lending

Credit Servicing

Property Investment

Asset Management

Corporate Finance

Relevant Teams

Legal

Compliance

Risk Management

Real Estate

Finance

Credit Administration

Portfolio Management

Operations

Transaction Management

Asset Management

Loan Administration

Due Diligence

Relevant Roles

Legal Counsel

Mortgage Officer

Credit Manager

Property Manager

Risk Officer

Compliance Officer

Portfolio Manager

Transaction Manager

Real Estate Director

Finance Director

Commercial Director

Banking Operations Manager

Loan Administration Manager

Asset Manager

Due Diligence Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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