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Table of Contents
BNK
Banks
If Resolution Trust Corporation or Federal Deposit Insurance Corporation is appointed receiver of a financial institution, the receiver may transfer assets to another financial institution by acquisition or purchase and assumption agreement. If the transfer is not evidenced by deed or (where applicable) mortgage assignment, the Company requires either a specific deed or assignment, or recordable copy of the acquisition or purchase and assumption agreement to evidence the transfer. Intervening liens against the failed financial institution should be excepted or released.
Requirements
BNKR01
STG
03/07/2006
V
2
Banks and Savings and Loans - Transfer to New Institution Required
The Company requires for its review and recordation a copy in recordable form of the document transferring the title to the land or mortgage of _______________ from _______________ to ________________. The company may then make additional requirements or exceptions.
Comment: If Resolution Trust Corporation or Federal Deposit Insurance Corporation is appointed receiver of a financial institution, the receiver may transfer assets to another financial institution by acquisition or purchase and assumption agreement. If the transfer is not evidenced by deed or (where applicable) mortgage assignment, the Company requires either a specific deed or assignment, or recordable copy of the acquisition or purchase and assumption agreement to evidence the transfer. Intervening liens against the failed financial institution should be excepted or released.
Comment: If Resolution Trust Corporation or Federal Deposit Insurance Corporation is appointed receiver of a financial institution, the receiver may transfer assets to another financial institution by acquisition or purchase and assumption agreement. If the transfer is not evidenced by deed or (where applicable) mortgage assignment, the Company requires either a specific deed or assignment, or recordable copy of the acquisition or purchase and assumption agreement to evidence the transfer. Intervening liens against the failed financial institution should be excepted or released.