Assignment of Mortgage, Note, and Other Documents
(FL)

Summary

This template assignment of mortgage, note, and other documents may be used in Florida to assign or transfer a promissory note, the mortgage securing payment of the note, and any other documents securing payment (e.g., UCC-1 financing statement and/or assignment of leases, rents, and profits). This template contains practical guidance, drafting notes, alternate clauses, and optional clauses. Florida imposes substantial documentary stamp and intangible personal property taxes on indebtedness secured by real property within the state. See Fla. Stat. Ann. § 201.08 and Fla. Stat. Ann. § 199.133. These taxes are due only on new indebtedness, however. A borrower that is refinancing an existing mortgage loan can avoid paying the tax on preexisting debt by arranging for an assignment of mortgage from the existing lender to the new lender at the time that the existing loan is satisfied. For related templates, see Allonge to Promissory Note (FL), Promissory Note (Acquisition Loan) (Pro-Lender) (FL), and [Leasehold] Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Acquisition Loan) (FL). For additional guidance, see Commercial Real Estate Financing (FL).