§ 55-220.1. Perfection of lien or interest in leases, rents and profits
The recordation pursuant to § 55-106, in the county or city in which the real property is located, of any deed, deed of trust or other instrument granting, transferring or assigning the interest of the grantor, transferor, assignor, pledgor or lessor in leases, rents or profits arising from the real property described in such deed, deed of trust or other instrument, shall fully perfect the interest of the grantee, transferee, pledgee or assignee as to the assignor and all third parties without the necessity of (i) furnishing notice to the assignor or lessee, (ii) obtaining possession of the real property, (iii) impounding the rents, (iv) securing the appointment of a receiver, or (v) taking any other affirmative action. The lessee is authorized to pay the assignor until the lessee receives written notification that rents due or to become due have been assigned and that payment is to be made to the assignee. This section shall apply to all instruments of record before, on or after July 1, 1992.
(1992, c. 67; 1993, c. 427.)Sections: Previous 55-217 55-218 55-218.1 55-219 55-220 55-220.1 55-221 55-222 55-222.1 55-223 55-224 55-225 55-225.1 55-225.2 55-225.3 Next
Last modified: April 16, 2009