9.33.040 - Recordation of transfer of loan/deed of trust.

Within ten calendar days following the purchase or transfer of a loan or deed of trust secured by real property, the new beneficiary and trustee shall record with the Los Angeles County Recorder's Office an assignment of rents or similar document that lists the name of the person purchasing or acquiring the loan or deed of trust and the mailing address and contact number of the new beneficiary and trustee responsible for receiving payment associated with the loan or deed of trust. This requirement shall not apply to the sale or transfer of a property when such sale or transfer does not include the sale or transfer of any loan or deed of trust associated with such property.

(Ord. No. 621, § 1, 9-29-2009)