The Mortgage Assignment Agreement is a crucial document used in Saudi Arabian financial and real estate transactions when transferring mortgage rights between parties. This agreement is particularly relevant in scenarios such as bank portfolio sales, refinancing arrangements, or corporate restructuring where mortgage rights need to be transferred. The document must strictly comply with Saudi Arabian law, including the Real Estate Finance Law and SAMA regulations, while maintaining Shariah compliance. It typically includes comprehensive details about the original mortgage, the property involved, the rights being transferred, and the obligations of all parties. The agreement must address specific Saudi Arabian requirements for mortgage assignments, including property registration procedures, regulatory approvals, and Shariah-compliant transfer mechanisms. This document is essential for maintaining clear title and security interest records in Saudi Arabia's property and financial systems.
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Key Requirements PROMPT example:
Mortgage Assignment Agreement
"I need a Mortgage Assignment Agreement under Saudi law for transferring a single residential property mortgage from Al Rajhi Bank to Riyad Bank, with completion scheduled for March 2025; the property is located in Riyadh and the mortgage value is 2.5 million SAR."
1. Parties: Identification of Assignor (current mortgagee), Assignee (new mortgagee), and acknowledgment by Mortgagor
2. Background: Details of the original mortgage, property, and reason for assignment
3. Definitions and Interpretation: Key terms including Property, Mortgage, Secured Obligations, and relevant Saudi law terms
4. Assignment: Core provisions detailing the transfer of mortgage rights and secured obligations
5. Consideration: Details of payment or other consideration for the assignment
6. Completion: Requirements and conditions for completing the assignment, including registration requirements
7. Representations and Warranties: Standard and Shariah-compliant representations from all parties
8. Covenants: Ongoing obligations of the parties, including registration and notification requirements
9. Further Assurance: Obligations to execute further documents and assist with perfection
10. Costs and Expenses: Allocation of costs including registration fees and taxes
11. Notices: Communication procedures between parties
12. Governing Law and Jurisdiction: Confirmation of Saudi law governance and jurisdiction
13. Language: Specification of controlling language (Arabic/English) for the agreement
1. Security Agent Provisions: Required when the assignment involves a security agent structure
2. Islamic Finance Provisions: Additional Shariah compliance provisions if specifically required
3. Tax Provisions: Detailed tax provisions if cross-border elements exist
4. Regulatory Compliance: Specific provisions required for regulated entities
5. Multiple Properties: Additional provisions for assignments involving multiple properties
6. Partial Assignment: Required when only part of the mortgage rights are being assigned
7. Currency Provisions: Required for cross-border transactions with different currencies
1. Property Description: Detailed legal description of the mortgaged property
2. Original Mortgage: Copy or details of the original mortgage agreement
3. Existing Security: Details of any existing security or encumbrances
4. Form of Notices: Template notices to relevant parties regarding the assignment
5. Registration Requirements: Checklist of required registrations and filings
6. Powers of Attorney: Required forms of power of attorney for registration
7. Shariah Approval: Relevant Shariah board approvals or certifications
8. Transfer Documents: Forms of additional transfer documentation required by Saudi authorities
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking
Real Estate
Financial Services
Islamic Finance
Property Development
Construction
Infrastructure
Commercial Property
Residential Property
Investment Management
Relevant Teams
Legal
Real Estate
Finance
Compliance
Risk Management
Islamic Banking
Corporate Affairs
Property Management
Security & Collateral
Operations
Relevant Roles
Legal Counsel
Real Estate Manager
Finance Manager
Compliance Officer
Property Manager
Risk Manager
Islamic Finance Specialist
Corporate Lawyer
Real Estate Finance Manager
Transaction Manager
Security Trustee
Portfolio Manager
Chief Legal Officer
Real Estate Director
Banking Operations Manager
Find the exact document you need
Mortgage Subordination Agreement
A Saudi Arabian law-governed agreement establishing priority arrangements between multiple mortgage holders, compliant with Shariah principles.
find out more
Land Mortgage Agreement
A Shariah-compliant legal document creating a security interest over real property in Saudi Arabia, establishing rights and obligations between mortgagor and mortgagee under Saudi law.
find out more
Real Estate Mortgage Agreement
A Shariah-compliant real estate mortgage agreement under Saudi Arabian law, establishing security interest over property while ensuring compliance with local regulations and Islamic finance principles.
find out more
Mortgage Loan Origination Agreement
Saudi Arabian mortgage loan origination agreement establishing terms for Sharia-compliant property financing and loan processing procedures.
find out more
Mortgage Loan Extension Agreement
A Saudi Arabian law-governed agreement that extends an existing Shariah-compliant mortgage loan term while maintaining original security arrangements and regulatory compliance.
find out more
Mortgage Deferral Agreement
A Shariah-compliant agreement for deferring mortgage payments in Saudi Arabia, modifying existing mortgage terms while maintaining compliance with Saudi banking regulations.
find out more
Holding Mortgage Agreement
A Saudi Arabian law-governed agreement establishing a Shariah-compliant mortgage over real property, creating security interests while maintaining compliance with local regulations and Islamic finance principles.
find out more
Owner Financing Mortgage Contract
A Sharia-compliant owner financing mortgage agreement under Saudi Arabian law, facilitating property purchase through direct seller financing arrangements.
find out more
Mortgage Loan Sale Agreement
A Sharia-compliant agreement for the sale and transfer of mortgage loans between financial institutions in Saudi Arabia, governed by Saudi law and SAMA regulations.
find out more
Seller Financed Mortgage Contract
A Saudi Arabian law-governed agreement for seller-financed property purchase, structured to comply with both Saudi regulations and Sharia principles.
find out more
Contract Of Real Estate Mortgage
A Sharia-compliant real estate mortgage agreement under Saudi Arabian law, creating security over property to secure financial obligations.
find out more
Mortgage Purchase Contract
A Saudi Arabian law-governed agreement combining property purchase terms with Shariah-compliant mortgage financing arrangements.
find out more
Mortgage Assignment Agreement
A Shariah-compliant agreement under Saudi Arabian law transferring mortgage rights and obligations from one mortgagee to another, including all associated security interests and registration requirements.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.