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REAL ESTATE LAW

What is a corporate assignment of deed of trust.

By Editorial Team

September 26, 2017

Reviewed by Michelle Seidel, B.Sc., LL.B./JD, MBA

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• What Is a Deed of Trust With Assignment of Rents?

A deed of trust is often used interchangeably with the term mortgage (although they have varying meanings depending on the state) and is the document that assigns the title and value of the property to specific parties. In a typical deed of trust , the deed is held by a certain agency, usually the lender or the escrow company, while the borrower pays back the mortgage. When the mortgage is paid, the title is given back to the borrower, but deeds of trust do not always stay in the same hands all the time.

​ Read More: ​ What is an Assignment of Trust Deed?

An assignment of a deed of trust is simply the movement of the deed of trust from one party to another, a party that was not originally involved in the deed creation when the property was bought. A corporate assignment is simply an assignment of the deed of trust between different businesses. Since the majority of mortgages are created by banks and lending institutions and not private lenders, most assignments of deeds of trust are corporate by nature.

Lender Assignments

Not all lenders reassign the deeds of trust that they hold, but some do and the practice is common. The lender typically moves the deed of trust into the hands of another lender. The other lender takes the place of the organization that originally made the loan, and the mortgage contract rules now apply to the new business. Lenders do this for several different reasons. For example, many choose to assign deeds of trust when they are selling mortgages in order to create immediate profit for themselves by selling the possession of the deed itself.

Requirements

The key part of a corporate assignment of a deed of trust is the debt obligation. The acquiring company wants to make sure that the borrower will now be making payments to them, not the original lender, so assignments are usually very clear on this matter. Assignment forms vary by state in other matters, depending on what regulations states have when it comes to transferring mortgages and similar documents.

Reconveyance

When the mortgage is paid off, the escrow company will initiate a reconveyance, ending the deed and moving the title from the lender to the hands of the borrower. This is a final type of assignment. It is not strictly corporate unless the borrower also was a business, but it represents the end of the process and a reconveyance (known as a satisfaction or cancellation depending on the state) is closely related to an assignment.

​ Read More: ​ What Is a Deed of Trust With Assignment of Rents?

• USLegal: Assignment of Deed of Trust or Mortgage
• USLegal: Description -- California Assignment and Satisfaction of Mortgage Law
• Legal Beagle: What is an Assignment of Trust Deed?
• Legal Beagle: What Is a Deed of Trust With Assignment of Rents?
• Legal Beagle: What Is the Difference Between a Deed and a Deed of Trust?
• Legal Beagle: Title Vs. Deed of Trust

This article was written by Legal Beagle staff. If you have any questions, please reach out to us on our contact us page.

Related Articles

• Who Can Act As Trustee in a Texas Deed of Trust?
• Who Is the Grantee Under a Deed of Trust?
• What is an Assignment of Trust Deed?

Deed of Assignment (for Intellectual Property)

In the realm of intellectual property, a Deed of Assignment is a formal legal document used to transfer all rights, title, and interest in intellectual property from the assignor (original owner) to the assignee (new owner). This is crucial for the correct transfer of patents, copyrights, trademarks, and other IP rights. The deed typically requires specific legal formalities, sometimes notarization, to ensure it is legally enforceable.

To be legally effective a deed of assignment must contain:

• Title of the Document : It should clearly be labeled as a "Deed of Assignment" to identify the nature of the document.
• Date : The date on which the deed is executed should be clearly mentioned.
• Parties Involved : Full names and addresses of both the assignor (the party transferring the rights) and the assignee (the party receiving the rights). This identifies the parties to the agreement.
• Recitals : This section provides the background of the transaction. It typically includes details about the ownership of the assignor and the intention behind the assignment.
• Definition and Interpretation : Any terms used within the deed that have specific meanings should be clearly defined in this section.
• Description of the Property or Rights : A detailed description of the property or rights being assigned. For intellectual property, this would include details like patent numbers, trademark registrations , or descriptions of the copyrighted material.
• Terms of Assignment : This should include the extent of the rights being transferred, any conditions or limitations on the assignment, and any obligations the assignor or assignee must fulfill as part of the agreement.
• Warranties and Representations : The assignor typically makes certain warranties regarding their ownership of the property and the absence of encumbrances or third-party claims against it.
• Governing Law : The deed should specify which jurisdiction's laws govern the interpretation and enforcement of the agreement.
• Execution and Witnesses : The deed must be signed by both parties, and depending on jurisdictional requirements, it may also need to be witnessed and possibly notarized.
• Schedules or Annexures : If there are detailed lists or descriptions (like a list of patent numbers or property descriptions), these are often attached as schedules to the main body of the deed.

Letter of Assignment (for Trademarks and Patents)

This is a less formal document compared to the Deed of Assignment and is often used to record the assignment of rights or licensing of intellectual property on a temporary or limited basis. While it can outline the terms of the assignment, it may not be sufficient for the full transfer of legal title of IP rights. It's more commonly used in situations like assigning the rights to use a copyrighted work or a trademark license.

For example, company X allows company Y to use their trademark for specific products in a specific country for a specific period.  

At the same time, company X can use a Letter of Assignment to transfer a trademark to someone. In this case, it will be similar to the Deed of Assignment. 

Intellectual Property Sales Agreement

An IP Sales Agreement is a detailed contract that stipulates the terms and conditions of the sale of intellectual property. It covers aspects such as the specific rights being sold, payment terms, warranties regarding the ownership and validity of the IP, and any limitations or conditions on the use of the IP. This document is essential in transactions involving the sale of IP assets.

However, clients usually prefer to keep this document confidential and prepare special deeds of assignment or letter of assignment for different countries.

IP Transfer Declaration

In the context of intellectual property, a Declaration is often used to assert ownership or the originality of an IP asset. For example, inventors may use declarations in patent applications to declare their invention is original, or authors may use it to assert copyright ownership. It's a formal statement, sometimes required by IP offices or courts.

When assigning a trademark, the Declaration can be a valid document to function as a proof of the transfer. For example, a director of company X declares that the company had sold its Intellectual Property to company Y. 

Merger Document

When companies or entities with significant IP assets merge, an IP Merger Document is used. This document outlines how the intellectual property owned by the merging entities will be combined or managed. It includes details about the transfer, integration, or handling of patents, copyrights, trademarks, and any other intellectual property affected by the merger.

In all these cases, the precise drafting of documents is critical to ensure that IP rights are adequately protected and transferred. Legal advice is often necessary to navigate the complexities of intellectual property laws.

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Deed of Assignment: Everything You Need to Know

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. 3 min read updated on January 01, 2024

Updated October 8,2020:

A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. It states that a specific piece of property will belong to the assignee and no longer belong to the assignor starting from a specified date. In order to be valid, a deed of assignment must contain certain types of information and meet a number of requirements.

What Is an Assignment?

An assignment is similar to an outright transfer, but it is slightly different. It takes place when one of two parties who have entered into a contract decides to transfer all of his or her rights and obligations to a third party and completely remove himself or herself from the contract.

Also called the assignee, the third party effectively replaces the former contracting party and consequently assumes all of his or her rights and obligations. Unless it is stated in the original contract, both parties to the initial contract are typically required to express approval of an assignment before it can occur. When you sell a piece of property, you are making an assignment of it to the buyer through the paperwork you sign at closing.

What Is a Deed of Assignment?

A deed of assignment refers to a legal document that facilitates the legal transfer of ownership of real estate property. It is an important document that must be securely stored at all times, especially in the case of real estate.

In general, this document can be described as a document that is drafted and signed to promise or guarantee the transfer of ownership of a real estate property on a specified date. In other words, it serves as the evidence of the transfer of ownership of the property, with the stipulation that there is a certain timeframe in which actual ownership will begin.

The deed of assignment is the main document between the seller and buyer that proves ownership in favor of the seller. The party who is transferring his or her rights to the property is known as the “assignor,” while the party who is receiving the rights is called the “assignee.”

A deed of assignment is required in many different situations, the most common of which is the transfer of ownership of a property. For example, a developer of a new house has to sign a deed of assignment with a buyer, stating that the house will belong to him or her on a certain date. Nevertheless, the buyer may want to sell the house to someone else in the future, which will also require the signing of a deed of assignment.

This document is necessary because it serves as a temporary title deed in the event that the actual title deed for the house has not been issued. For every piece of property that will be sold before the issuance of a title deed, a deed of assignment will be required.

Requirements for a Deed of Assignment

In order to be legally enforceable, an absolute sale deed must provide a clear description of the property being transferred, such as its address or other information that distinguishes it from other properties. In addition, it must clearly identify the buyer and seller and state the date when the transfer will become legally effective, the purchase price, and other relevant information.

In today's real estate transactions, contracting parties usually use an ancillary real estate sale contract in an attempt to cram all the required information into a deed. Nonetheless, the information found in the contract must be referenced by the deed.

Information to Include in a Deed of Assignment

• Names of parties to the agreement
• Addresses of the parties and how they are binding on the parties' successors, friends, and other people who represent them in any capacity
• History of the property being transferred, from the time it was first acquired to the time it is about to be sold
• Agreed price of the property
• Size and description of the property
• Promises or covenants the parties will undertake to execute the deed
• Signatures of the parties
• Section for the Governors Consent or Commissioner of Oaths to sign and verify the agreement

If you need help understanding, drafting, or signing a deed of assignment, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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Content Approved by UpCounsel

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• Contract for Deed California
• Contract for Deed in Texas
• Assignment Law
• Deed Contract Agreement
• Assignment Of Contracts
• Legal Assignment
• Deed vs Agreement
• Assignment Legal Definition
• Contract for a Deed

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Deed of Assignment of Stock Subscription

A Deed of Assignment of Stock Subscription is a written document used to transfer shares of stock of a corporation from the registered owner (the "assignor") to another person (the "assignee"). It should specify the names of the parties , the date of the transfer , the number of the stock certificate that represents the shares to be transferred, and the number of shares that will be transferred.

Only shares that have been fully paid are transferable. This means that if the assignor has not yet paid the full amount of the subscription, then the shares under the subscription cannot be transferred .

In order to transfer the shares, the stock certificate should be endorsed by the owner or any person legally authorized to make the transfer. Indorsement means signing the back of the stock certificate.

Finally, the transfer of shares will only be valid between the parties until it is recorded in the books of the corporation.

How to use this document

This document can be used by the registered owner of shares of stock of a corporation to transfer the shares (or part of the shares) to another person. It assumes that the purchase price for the shares has been fully paid .

The user should complete the document by entering the information required in the document. Once it is completed, the assignor and the assignee should sign the document .

This Deed of Assignment also includes an Acknowledgment. An Acknowledgment is an act of a person before a notary public stating that the signature on a document was voluntarily affixed by him and he executed the document as his free and voluntary act . Acknowledging a document before a notary public turns the document into a public document . Public documents are generally self-authenticating, meaning no other evidence will be needed to prove the execution of the document.

The Documentary Stamp Tax ("DST") and other applicable taxes, such as the Capital Gains Tax , should also be paid to the Bureau of Internal Revenue ("BIR") by the assignor or the assignee. The DST is required to be paid for any issuance or transfer of shares. The BIR shall issue a Certificate Authorizing Registration ("CAR") once the DST and other taxes are paid.

The assignor or assignee can then present the document, together with the endorsed stock certificate and the CAR , to the Corporate Secretary so the transfer can be recorded in the books of the corporation .

Applicable law

The Revised Corporation Code and the general laws of contracts and obligations found in the Civil Code govern the transfer of shares. However, other laws, their rules and regulations, and SEC rules may affect the conduct and transactions of the Corporation such as but not limited to the 1987 Constitution of the Philippines , the Securities Regulation Code, the Foreign Investment Act, the Republic Act 8179, specifically the Foreign Investment Negative List, the Anti-Money Laundering Act, and the Anti-Dummy Law may affect the ownership requirements of a corporation, depending on the business of the corporation. Tax laws may also affect the transfer of the shares.

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Deed of Assignment of Stock Subscription - template

Country: Philippines

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Understanding Deed of Assignment: Definition, Uses, and Legal Implications Explained

A deed of assignment is a legal document that transfers the ownership of a tangible or intangible asset from one party (assignor) to another (assignee). It is used to formalize the transfer of rights, interests, or benefits associated with the asset specified in the deed. This document is commonly used in various legal and financial transactions to ensure clarity and enforceability of the transfer.

Table of Contents

Key characteristics of deed of assignment.

• Legal Form : It is a formal written document recognized under legal jurisdictions.
• Transfer of Rights : Involves transferring ownership or interests in a specific asset.
• Specificity : Clearly defines the asset being transferred and the terms of transfer.
• Enforceability : Once executed, it becomes legally binding on both parties.

How Deed of Assignment Works

Examples and usage, 1. transfer of debt example.

• Definition : A debtor assigns their debt obligation to a new creditor.
• Process : A deed of assignment is used to transfer the rights to receive payment from the debtor to the new creditor.

2. Intellectual Property Transfer

• Definition : An author assigns their copyright in a book to a publishing company.
• Procedure : A deed of assignment outlines the transfer of intellectual property rights from the author to the publisher.

Advantages of Deed of Assignment

• Legal Clarity : Provides a clear record of the transfer of rights or interests.
• Enforceability : Ensures that the assignee can legally enforce their rights against the assignor.
• Asset Protection : Helps protect the rights of the assignee against claims by third parties.

Challenges of Deed of Assignment

Considerations.

• Legal Requirements : Must adhere to specific legal formalities to be enforceable.
• Risk of Breach : Potential for disputes over the validity or terms of the assignment.

Importance of Deed of Assignment

Practical applications, legal transfers.

• Debt Assignments : Transferring debt obligations from one creditor to another.
• Property Transfers : Assigning ownership rights in real estate or intellectual property.

Real-world Implications

Legal and financial security.

• Contractual Agreements : Facilitates smooth transfers of rights and responsibilities.
• Risk Management : Helps mitigate risks associated with ownership disputes or claims.

Example Scenario

Application in debt assignment, scenario: debt transfer deed of assignment.

• Context : A company assigns its accounts receivable to a factoring company.
• Procedure : Signing a deed of assignment outlining the transfer of rights to receive payment from debtors to the factoring company.

A deed of assignment is a crucial legal instrument used to transfer ownership or rights from one party to another. Whether for debts, intellectual property, or other assets, it ensures clarity and enforceability in legal transactions. By documenting the specifics of the transfer and adhering to legal requirements, parties can safeguard their interests and ensure that the transfer is legally binding. Understanding the purpose and implications of a deed of assignment is essential for navigating legal transfers of rights and assets effectively. It provides a structured approach to asset transfers, protecting the rights of both assignors and assignees under legal frameworks. Overall, deeds of assignment play a significant role in facilitating smooth and legally secure transfers of various types of assets and rights between parties.

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DEED OF ASSIGNMENT: EVERYTHING YOU NEED TO KNOW.

A Deed of Assignment refers to a legal document in which an assignor states his willingness to assign the ownership of his property to the assignee. The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the “assignor”) transfers ownership over certain property to another person (the “assignee”) by way of assignment. As a result of the assignment, the assignee steps into the shoes of the assignor and assumes all the rights and obligations pertaining to the property.

In Nigeria, a Deed of Assignment is one of the legal documents that transfer authentic legal ownership in a property. There are several other documents like a deed of gifts, Assent, etc. However, this article focuses on the deed of assignment.

It is the written proof of ownership that stipulates the kind of rights or interests being transferred to the buyer which is a legal interest.

Read Also: DIFFERENCE BETWEEN TRANSFER OF PROPERTY THROUGH WILLS AND DEED OF GIFT

CONTENTS OF A DEED OF ASSIGNMENT

Content of a Deed of Assignment matters a lot to the transaction and special skill is needed for a hitch-free transaction. The contents of a deed of assignment can be divided into 3 namely; the introductory part, the second (usually the operative part), and the concluding part.

• THE INTRODUCTORY PART: This part enumerates the preliminary matters such as the commencement date, parties in the transaction, and recitals. The parties mentioned in the deed must be legal persons which can consist of natural persons and entities with corporate personality, the name, address, and status of the parties must be included. The proper descriptions of the parties are the assignor (seller) and assignee (buyer). The Recitals give the material facts constituting the background to the current transaction in chronological order.
• THE SECOND PART (USUALLY THE OPERATIVE PART): This is the part where the interest or title in the property is actually transferred from the assignor to the assignee. It is more like the engine room of the deed of assignment. The operative part usually starts with testatum and it provides for other important clauses such as the consideration (price) of the property, the accepted receipt by the assignor, the description of the property, and the terms and conditions of the transaction.
• The testimonium : this shows that all the parties are involved in the execution of the deed.
• Execution : this means signing. The capacity of the parties (either individual, corporate bodies, illiterates) is of great essence in the mode of execution.  It is important to note that the type of parties involved determines how they will sign. Example 2 directors or a director/secretary will sign if a company is involved. In the same way, if an association, couple, individual, illiterate, family land (omonile), firm, unregistered association, etc. is involved the format of signature would be different.
• Attestation : this refers to the witnessing of the execution of the deed by witnesses.

For a Deed of Assignment to be effective, it must include a column for the Governor of the state or a representative of the Government where the property is, to sign/consent to the transaction. By virtue of Sec. 22 of the Land Use Act, and Sec. 10 Land Instrument Registration Law, the Governor must consent to the transaction.

Do you have any further questions? feel free to call Ibejulekkilawyer on 08034869295 or send a mail to [email protected] and we shall respond accordingly.

Disclaimer: The above is for information purposes only and should not be construed as legal advice. Ibejulekkilawyer.com (blog) shall not be liable to any person(s) for any damage or liability arising whatsoever following the reliance of the information contained herein. Consult us or your legal practitioner for legal advice.

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Sec opinion 21-03: deed of trust and assignment over share of stock.

In SEC-OGC Opinion No. 21-03 dated February 18, 2021, the Securities and Exchange Commission ( “SEC” ) resolved the following issues:

• Whether a company with nominee shareholder can register in its Stock and Transfer Book ( “STB” ) and General Information Sheet ( “GIS” ) the changes in nominee shareholders pursuant to an existing Deed of Trust and Assignment without the need of an actual sale; and
• Whether there is a need to report to the SEC, through the company’s GIS, the said new nominee director.

Sysmex Philippines, Inc. ( “Sysmex” ) has five (5) nominee shareholders who also constitute the Board of Directors. One nominee shareholder/director is no longer connected with Sysmex; thus, the latter intends to appoint a new shareholder/director. However, Sysmex is in quandary on whether to execute a Deed of Trust and Assignment or Deed of Absolute Sale to effect such change. 

Since the contemplated transfer of share/s to the new nominee shareholder is for purposes of qualifying the said nominee shareholder to be a member of the Board, and to complete the number of directors composing the same, the SEC cited its previous opinions where it held that:

“ For purposes of complying with the statutory minimum number of stockholders/directors, the owner may transfer one (1) qualifying share to each nominee stockholders for purposes of qualifying them to become members of the Board, without giving them the beneficial ownership of the shares. Said transfer would be more of a “trust” and not a transfer of “ownership,” hence, the beneficial interest in such shares will remain with the assignor while the assignee will hold only the legal title to the stock.  In such case, the transferee should be described in the Deed of Assignment, corporate books and certificate of stock merely as a qualifying shareholder or nominee of the transferor. The fact that the stock standing on the corporate books is in the name of the person only as a qualifying shareholder or that the holder of the stock certificate is described merely as a nominee serves as a notice to the corporation and third parties that the holder thereof does not hold the share in his own right but holds it only as a nominee for the benefit of the real owner.”  [emphasis supplied]

Thus, the SEC opined that Sysmex can validly report in its GIS changes in nominee shareholders pursuant to a validly executed Deed of Trust and Assignment.

With respect to the second issue, the SEC held that Section 25 of the Revised Corporation Code (“ RCC ”), which categorically mandates the submission of information relating to the election of directors, trustees and officers, is intended to timely apprise the SEC of any relevant changes in the submitted information on file with the latter as they arise. Section 25 of the RCC thus provides:

“Section 25. Within thirty (30) days after the election of the directors, trustees and officers of the corporation, the secretary , or any other officer of the corporation, shall submit to the Commission, the names, nationalities, shareholdings, and residence addresses of the directors, trustees, and officers elected. x x x” [Emphasis supplied]

The election or appointment of a new director is a circumstance of Sysmex’s governance structure that needs to be reported to the SEC through its GIS as it involves a material change in the Board’s composition.

HOW ARE SHARES OF STOCKS TRANSFERRED?

After reading How are shares of stocks transferred? , read also Administrative Sanctions and Criminal Penalties under the Pre-Need Code of the Philippines

For shares of stocks with a stock certificate, there must be delivery of the stock certificate, indorsement and recording in the stock and transfer book of the corporation.

For shares of stocks without a stock certificate, transfer must be done by means of a deed of assignment and recording in the stock and transfer book of the corporation.

The Corporation is not a party to the transfer of shares of stocks through any form of conveyance.

S hares of stocks in a corporation are treated as personal property under our existing laws. Like any other personal property, an owner of shares of stocks can sell, assign, transfer or convey his property to another person as an attribute of ownership. However, the law may regulate shares of stocks since by its nature, it is considered as intangible personal properties. As such, any manner of conveyance or transfer must also be regulated.

The law says:

Section 62 of the Revised Corporation Code of the Philippines states that:

SEC. 62 . Certificate of Stock and Transfer of Shares . – The capital stock of corporations shall be divided into shares for which certificates signed by the president or vice president, countersigned by the secretary or assistant secretary, and sealed with the seal of the corporation shall be issued in accordance with the bylaws. Shares of stock so issued are personal property and may be transferred by delivery of the certificate or certificates indorsed by the owner, his attorney in-fact, or any other person legally authorized to make the transfer. No transfer, however, shall be valid, except as between the parties, until the transfer is recorded in the books of the corporation showing the names of the parties to the transaction, the date of the transfer, the number of the certificate or certificates, and the number of shares transferred. The Commission may require corporations whose securities are traded in trading markets and which can reasonably demonstrate their capability to do so to issue their securities or shares of stocks in uncertificated or scripless form in accordance with the rules of the Commission. No shares of stock against which the corporation holds any unpaid claim shall be transferable in the books of the corporation. (Emphasis supplied.)

What are the requirements of a valid transfer of shares of stocks?

For shares of stocks that are represented by a stock certificate, the following must be strictly complied with:

• delivery of the stock certificate;
• indorsement by the owner or his agent;
• recording in the books of the corporation. (Sec. 62, Revised Corporation Code)

However, if the shares of stocks are not represented by a stock certificate, such as when the certificate has not yet been issued or when such certificate is not in the possession of the stockholder, the transfer must be:

• by means of a deed of assignment; and
• such is duly recorded in the books of the corporation.

Jurisprudence says:

For the delivery of the stock certificate, the Supreme Court ruled that the term delivery means delivery to the assignee or the transferee and not delivery to the corporation. (Teng v. Securities and Exchange Commission, G.R. No. 184332, 17 February 2016)

In the case of Rural Bank of Lipa v. Court of Appeals (G.R. No. 124535, 28 September 2001) , the Supreme Court has held that for the transfer of shares of stocks to be valid and binding to third parties, such transfer must be recorded in the books of the corporation.

It must be noted that the registration in the stock and transfer book is not necessary if the conveyance is by way of chattel mortgage. However, there must be due registration with the Register of Deeds . (Chua Guan v. Samahang Magsasaka, G.R. No. L-42091, 2 November 1935)

Registration is likewise necessary if the heirs of the deceased shareholder acquire the latter’s shares of stocks. (Reyes v. RTC and Zenith Insurance Corporation, G.R. No. 165744, 11 August 2008)

The corporation whose shares of stock are the subject of a transfer through sale, donation, or any mode of conveyance, is not a party to the transaction. (Forest Hill Golf & Country Club v. Vertex Sales and Trading, G.R. No. 202205, 6 March 2013)

May a stockholder bring a suit to compel the corporate secretary to register valid transfer of stocks?

Yes, a stockholder may compel the corporate secretary to register a valid transfer of stocks. It is the duty and obligation of the corporate secretary to register the transfer of stocks.

Is the attachment or mortgage of shares of stocks required to be registered in the corporation’s stock and transfer books to be valid and binding on the corporation and third parties?

No, an attachment or mortgage of shares of stocks need not be registered in the corporation’s stock and transfer books inasmuch as a chattel mortgage over shares of stocks does not involve a transfer of shares.

Only absolute transfers of shares of stocks are required to be registered in the corporation’s stocks and transfer book in order to have the force and effect against third persons. (Chemphil Export and Import Corporation v. Court of Appeals, G.R. No. 112438-39, 12 December 1995)

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Deed Of Trust: What It Is And How It Works

Updated: Mar 2, 2023, 3:15am

Buying property usually comes with an avalanche of paperwork. It can be a confusing process, especially when it comes to knowing the difference between the various documents you sign. If there’s one contract that’s important to understand, however, it’s the deed of trust.

Depending on your lender and the state you live in, you may or may not need a deed of trust when financing a home purchase. Here’s what you should know about this contract and how it differs from a mortgage .

What Is a Deed Of Trust?

When you finance the purchase of a property, you will sign either a mortgage or deed of trust—but not both. You can take out a mortgage in all 50 U.S. states, while a deed of trust is only available in some states.

A deed of trust is a legal document that secures a real estate transaction. It works similarly to a mortgage, though it’s not quite the same thing. Essentially, it states that a designated third party holds legal title to your property until you’ve paid it off according to the terms of your loan. Deeds of trust are recorded in public records just like a mortgage.

How Does a Deed of Trust Work?

A deed of trust exists so that the lender has some recourse if you don’t pay your loan as agreed. There are three parties involved in a deed of trust: the trustor, the beneficiary and the trustee.

The three parties involved in a deed of trust for a real estate transaction are a:

• Trustor. This is the person whose assets are being held in the trust, also known as the borrower (i.e., you). The title to your home is held by the trust until the loan is paid off. Even so, you remain the equitable owner as long as you keep paying the loan according to the terms outlined in the deed of trust. That means you enjoy all the benefits of being the homeowner, such as the right to live there and gain equity, even though you aren’t the legal title holder.
• Beneficiary. The beneficiary is the party whose investment interest is being protected. Usually, that’s the lender, though it also can be an individual with whom you have a contract.
• Trustee. The trustee holds the legal title of the property while you’re making payments on the loan. Trustees often are title companies, but not always. Once you’ve paid off your loan, the trustee is responsible for dissolving the trust and transferring the title to you.

If you sell the property before it’s paid off, the trustee will use proceeds of the sale to pay the lender the remaining balance (you keep the profits). If you fail to meet your payment obligations and default on the mortgage, the property would go into foreclosure , and the trustee would be responsible for selling the property.

What Is Included in a Deed of Trust

A deed of trust includes many important details about your property, loan and related terms and conditions—much of the same information you would find in your mortgage. Typically, you’ll find the following outlined in a deed of trust:

• The names of the parties involved (the trustee, trustor and beneficiary)
• The original loan amount and repayment terms
• A legal description of the property
• The inception and maturity dates of the loan
• Various clauses, such as acceleration and alienation clauses
• Any riders regarding the clauses outlined

It’s common for a deed of trust to include acceleration and alienation clauses. If you’re delinquent on your loan, it can trigger the acceleration clause—essentially a demand for immediate repayment of the loan. Depending on the terms, this can happen after missing just one payment, though lenders often give a few months of leeway to allow the borrower to catch up on payments. If you fail to do so under the terms outlined in the acceleration clause, the next step is formal foreclosure proceedings.

An alienation clause is also known as a due-on-sale clause and it prevents anyone who buys the property to take on the loan under its current terms. Instead, the alienation clause would dictate that the loan must be paid in full if you sell the property.

Depending on your state, the deed of trust may also include a power of sales clause. This allows for a much faster foreclosure process than if your lender had to involve the state courts in a judicial foreclosure. That said, you won’t be foreclosed on overnight under a power of sales clause; the exact process differs by state and lender. Still, if you’re facing a nonjudicial foreclosure, it can happen in a matter of months. If you want to formally fight the foreclosure, you’ll need to hire a lawyer.

States that allow power of sale foreclosures include: Alabama, Alaska, Arizona, Arkansas, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming.

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Deed of Trust Vs. Mortgage

The terms “deed of trust” and “mortgage” are often used interchangeably, but they’re really two different things. That said, there are also some similarities. To review, here are the key ways a mortgage and deed of trust are similar as well as different.

Similarities

• Public record: Both documents are recorded with the county clerk.
• Subject to state law: The exact terms of a mortgage or a deed of trust depend on the local state law.
• Contracts, not loans: Neither document serves as the actual loan agreement; a deed of trust or mortgage is a contract that places a lien on your property and dictates how your lender can repossess the property through foreclosure.

Differences

• Parties involved: A mortgage is an agreement between a borrower and lender, while a deed of trust involves a trustor, beneficiary and trustee.
• Foreclosure type: A mortgage requires a judicial foreclosure, while a deed of trust allows for a nonjudicial foreclosure.
• Foreclosure timeline: Judicial foreclosure on a mortgage can be a lengthy process, while nonjudicial foreclosure through a deed of trust is much faster.

What’s the Advantage of a Trust Deed Over a Mortgage?

If the borrower defaults, a trust deed makes it possible for the lender to sell the property without having to go to court. With a mortgage, the lender has to file a foreclosure claim in court and secure a judge’s approval to sell the property. This can mean a lot of expenses for both the borrower and the lender.

If you are investing in a real estate project, a trust deed also has a few advantages over a mortgage. This is because the investor is considered the lender in the transaction, and their name is recorded on the trust deed as such. The investor can receive interest on their “loan” and the principal is repaid in full once the property has been built.

Warranty Deed Vs. Deed of Trust

Both a warranty deed and deed of trust are used to transfer the title of a property from one person to another. However, the difference between these two contracts is who is protected. As you now know, a deed of trust protects the beneficiary (lender). A warranty deed, on the other hand, protects the property owner.

When a property title is transferred with a warranty deed, ownership goes from the seller (also known as the grantor) to the buyer (also known as the grantee). The warranty deed guarantees that the previous owners, or grantor, had full ownership of the property and right to transfer it. In other words, it promises that you won’t inherit any liens or future claims against the property. It provides peace of mind that you own the property outright once the title is in your name.

Are Trust Deeds a Good Idea?

Trust deeds could be a good idea if you are an investor searching for options to earn passive income, while also being protected via the deed. However, investing in real estate is unpredictable and returns are never guaranteed. A trust deed does not reduce the probability of default or ensure that you will recoup your initial investment.

Consult with a financial advisor or investment professional before going down this route.

Personal finance writer Casey Bond contributed to this article.

Get Forbes Advisor’s ratings of the best mortgage lenders, advice on where to find the lowest mortgage or refinance rates, and other tips for buying and selling real estate.

Frequently Asked Questions (FAQs)

What is an assignment of deed of trust.

An assignment of trust deed is necessary if a lender sells a loan secured by a trust deed. It assigns the trust deed to whoever buys the loan (such as another lender), granting them all the rights to the property. It is recorded along with the original, making it a matter of public record.

What happens with the deed of trust after you pay off your mortgage?

Once you pay off your loan, the trustee is responsible for releasing the trust and transferring the title to you. You now have full ownership of the home.

Can you sell a house with a deed of trust?

Yes, you can. However, if you are selling the house for less than the loan amount, you will need the lender’s approval. Once the property is sold, the trustee uses the proceeds to pay the lender what they are still owed. The borrower then gets any money that is left over.

How long does a deed of trust last?

A deed of trust, like a mortgage, typically has a maturity date, which is when the loan must be paid off in full. That date will vary transaction to transaction. Sometimes a deed of trust won’t have a maturity date. In this scenario, state law dictates the number of years a deed of trust lasts, anywhere from 10 to 60 years after it was recorded.

What is a purchase money deed of trust?

A purchase money deed of trust secures the funds used to buy the property. It also gives the buyer priority over any liens or encumbrances against them

Does a deed of trust show ownership?

No. A deed of trust is a legal document that secures a real estate transaction. It only shows that a designated third party holds legal title—i.e. ownership—to your property until you’ve paid it off, according to the terms of your loan.

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How to transfer shares of stock in a corporation

When you own shares of stock, not traded thru stock exchange,in a company registered in the Philippines, this isconsidered part of your personal property. Not only are you entitled to stockholder benefits, you also have the right to transfer your shares.

You may decide to transfer them as a gift, sell them, or assign them to someone else. Here are the steps for transferring shares of stock in a corporation:

1. Gather the necessary documents

The first and foremost, the item you should have is a  stock certificate , assuming your shares are fully paid. Your shares of stock must be covered by a certificate – this is proof of your stock ownership.

Another document that you may need is the  Certificate Authorizing Registration (CAR) . The CAR is a certification required by the Bureau of International Revenue (BIR) for the stocks that are not traded on the Philippine Stock Exchange. This document allows the corporate secretary of the corporation to record your transfer of stocks in their books. The BIR may also need a proof of acquisition of the shares. This may be in the form of a subscription agreement, or prior deed of sale or deed of donation, or even a deed of partition, as the case maybe.

2. Get an endorsement of the share

Once you have the documents, you may now endorse your stock certificate. The endorsement can come from you as an owner of the shares.

3. Deliver the stock certificate with a Deed showing the proof of transfer

After you have your stock certificate endorsed, you may then transfer it. By delivering the stock certificate, ownership is now transferred to the person of your choice, whether they bought your shares of stock or received them from you as a gift.

Always make sure that your stock certificateis properly endorsedbefore you deliver it. Simplyhanding over the stock certificate is not a transfer of ownership. The transfer will not be valid because there is no proof without the endorsement and the recording of the transfer in the books of the corporation involved.

As proof of transfer, you will need to execute a Deed of Sale, or Donation or a similar transfer document, transferring the shares to your vendee or donee or heirs.

4. Record the transfer in the books

After delivering your endorsed stock certificate, finalize your transfer by having it recorded in the Stock and Transfer Book of the said corporation. According to Section 63 of the Corporation Code, it is important to have the transfer recorded in their books or else it willbe considered invalid. Make sure that the bookkeeper documents the following:

• Names of the parties involved with the transfer
• Date of the transfer
• Number of certificate/s
• Number of shares transferred

Having the transfer recorded in the books updates the corporation on who its current shareholders are. It also lets the corporation know who they can call for stockholder meetings and officer elections.

Learn more about owning and transferring shares of stock in the Philippines

For more information, get in touch with Duran & Duran-Schulze Law at  [email protected]  or (+632) 478 5826.

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If you had a loan at a failed bank which you paid off and the bank’s lien on your property was not released, we may be able to help. More information on lien releases

1 Confirm the FDIC has the authority to assist with a lien release

The FDIC may be able to assist you in obtaining a lien release if the request is for a customer of a failed bank that was placed into FDIC receivership.

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2 Compile Required Documents and Prepare Request for a Lien Release

Review the required documents based on the type of loan:

Home, Building, or Land: Required Documents for Obtaining a Lien Release

Recorded Mortgage or Deed of Trust

A recorded copy of the mortgage or deed of trust document for which you are requesting a release. The copy must be legible and clearly show the recording information. This document can be obtained from the public records in the county where the property is located or from your title company or title attorney.

Recorded Assignments

Recorded copies of all assignments in the chain of title leading to the FDIC receivership.

Title Search, Title Commitment, or Attorney's Title Opinion

A copy of a recent (dated within the last six months) title search, title commitment issued by a title company, or an attorney's title opinion on the property for which you are requesting a release. Your title company or title attorney can usually provide you with this title document.

Proof of Payment

Proof that the loan was paid in full, which can be in the form of a Lienholder’s promissory note stamped "PAID" , a signed HUD-1 settlement statement, a copy of payoff check, or any other documentation evidencing payoff to the failed bank.

The FDIC will not accept a copy of the borrower’s credit report as proof of payoff.

Assignment of a Real Estate Lien: Required Documentation for Obtaining an Assignment

A recorded copy of the mortgage or deed of trust document for which you are requesting an assignment. The copy must be legible and clearly show the recording information. This document can be obtained from the public records in the county where the property is located or from your title company or title attorney.

A copy of a recent (dated within the last six months) Title Search, Title Commitment issued by a title company, or an attorney's title opinion on the property for which you are requesting an assignment that documents the missing assignment or transfer of the lien interest in the chain of title. Your title company or title attorney can usually provide you with this title document.

Note Endorsement or Purchase and Sale Contract

Proof that the party to whom the assignment is being made is the subsequent owner of the lien. Documentation for the FDIC consideration may be a note endorsement or a loan purchase and sale contract.

Allonge: Required Documents for Obtaining an Allonge

Copy of Promissory Note

A copy of the note, and any endorsements for which you are requesting an allonge. The copy must be legible and include all pages of the note.

A recorded copy of the mortgage or deed of trust document for which you are requesting an allonge. The copy must be legible and clearly show the recording information. This document can be obtained from the public records in the county where the property is located or from your title company or title attorney.

Proof of Subsequent Owner of Promissory Note

Proof that the party to whom the allonge may be issued to is the subsequent owner of the note. Documentation for FDIC consideration may be a recorded assignment from the failed institution to the subsequent owner or a loan purchase and sale contract.

Car or Truck: Required Documents for Obtaining a Lien Release

Title, Non-Negotiable Title, Vehicle Inquiry Report, or Title Report

A copy of the title or non-negotiable title for the vehicle that you are requesting a release. The copy must be legible and clearly show:

• Owner's Name
• Lienholder's Name
• Vehicle Identification Number (VIN)
• Title Number
• Make and Model

If the title or non-negotiable title has been lost or is unavailable, you must request and provide a printout from the state containing the title information. This printout is sometimes called a Vehicle Inquiry Report or Title Report. Depending on the state, you may have to contact the Department of Motor Vehicles, Department of Public Safety, or the local tax office for this printout (note: there may be a small fee).

A registration certificate is not the same as a Title Report and is unacceptable.

Proof of Payoff

Proof that the loan was paid in full, which can be in the form of a Lienholder’s promissory note stamped "PAID" , a copy of payoff check, or any other documentation evidencing payoff to the failed bank.

Boat: Required Documents for Obtaining a Lien Release

Title, Non-Negotiable Title, or Inquiry Report

A copy of the Title or non-negotiable title for the craft which you are requesting a release. The copy must be legible and clearly show:

• Identification Number

If the title or non-negotiable title has been lost or is unavailable, you must obtain and provide a printout from the state, sometimes called an inquiry report or title report. Depending on the state, you may have to go to the Department of Parks and Wildlife, Department of Motor Vehicles, Department of Public Safety, or the local tax office for this printout (note: there may be a small fee).

If the boat is classified as an "Ocean Vessel”, you must obtain and provide a title report from the United States Coast Guard.

Mobile or Manufactured Home: Required Documents for Obtaining a Lien Release

A copy of the title or non-negotiable title for the mobile/manufactured home for which you are requesting a release. The copy must be legible and clearly show:

• Label or Serial Number
• Weight and Size

If the title or non-negotiable title has been lost or is unavailable, you must request and provide a printout from the state containing the title information. This printout is sometimes called an inquiry report or title report. Depending on the state, you may have to go to the Department of Housing and Community Affairs, Department of Motor Vehicles, Department of Public Safety, or the local tax office for this printout (note: there may be a small fee).

Proof that the loan was paid in full, which can be in the form of a lienholder’s promissory note stamped "PAID" , a copy of payoff check, or any other documentation evidencing payoff to the failed bank.

Aircraft: Required Documents for Obtaining a Lien Release

Title Report

A copy of a title report from an aircraft title agency for the aircraft for which you are requesting a release. The copy must be legible and clearly show:

• Debtor's Name
• Secured Party or Lienholder's Name
• FAA Registration Number
• Aircraft Serial Number
• Aircraft Manufacturer and Model
• Date of the Security Conveyance
• Date of the recording of the Security Conveyance
• Conveyance Number

Business Equipment and/or Other Chattel Property (UCC): Required Documents for Obtaining a Lien Release

UCC Financing Statement

A copy of all filed UCC Financing Statements for the property for which you are requesting a release. The copy must be legible and clearly show:

• Debtor's Name and Address
• Name of the Secured Party
• Filing Number for the UCC
• Any subsequent Amendments and/or Continuations

If a copy of the filed UCC Financing Statement has been lost or is unavailable, you must obtain and provide a printout from the Secretary of State or county recorder’s office containing the information listed above.

Life Insurance: Required Documents for the FDIC Review of Obtaining a Lien Release

Collateral Assignment of Life Insurance

A complete copy of the collateral assignment of life insurance for the policy for which you are requesting a release. The life insurance company that issued the policy should be able to provide this document. The copy must be legible and clearly show:

• Name of the Insured Person
• Date of Insurance Policy
• Policy Number
• Name of the Insurance Company that issued the policy
• Address of the Insurance Company.

3 Register/Mail request to FDIC DRR Customer Service and Records Research

You must register and submit your request and supporting documentation through the FDIC Information and Support Center. Access the FDIC Information and Support Center site and submit requests directly

FDIC Information and Support Center

Do not include your social security number in any correspondence.

Do not include a credit report as proof of payoff.

Requests are processed in the order they are received.

Allow 20 business days for FDIC's review and response once all required documentation is received.

Please note that documents provided by the FDIC are signed and notarized electronically.

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Create Account You must be signed in to print., once signed in, look for the pdf button.. 214 IMAGES Deed of Transfer of Shares FREE 17+ Deed of Assignment Samples in PDF Assignment and Transfer of Stock Certificate Template Deed of Assignment Assignment Deed Form Printable Deed Of Assignment Template COMMENTS What Is a Corporate Assignment of Deed of Trust? An assignment of a deed of trust is simply the movement of the deed of trust from one party to another, a party that was not originally involved in the deed creation when the property was bought. A corporate assignment is simply an assignment of the deed of trust between different businesses. Since the majority of mortgages are created by banks and lending institutions and not private lenders ... Deeds of Assignment and Declarations of Trust DEED OF ASSIGNMENT . KNOW ALL MEN BY THESE PRESENTS: This DEED, made and executed this day of September 2006 at , by and between: BENHOOR ELYASHAR, of legal age, American, and resident of 1411 Stradella Road, Los Angeles, CA, U.S.A. 90077, and hereafter referred to as "ASSIGNOR"; - and - U.S. AUTO PARTS NETWORK, INC., a corporation duly organized and existing under the laws of the State of ... Deed of Assignment: Everything You Need to Know 4 min. In the realm of intellectual property, a Deed of Assignment is a formal legal document used to transfer all rights, title, and interest in intellectual property from the assignor (original owner) to the assignee (new owner). This is crucial for the correct transfer of patents, copyrights, trademarks, and other IP rights. Deed of Assignment The deed of assignment is the main document between the seller and buyer that proves ownership in favor of the seller. The party who is transferring his or her rights to the property is known as the "assignor," while the party who is receiving the rights is called the "assignee.". A deed of assignment is required in many different ... Deed of Assignment of Stock Subscription A Deed of Assignment of Stock Subscription is a written document used to transfer shares of stock of a corporation from the registered owner (the "assignor") to another person (the "assignee"). It should specify the names of the parties, the date of the transfer, the number of the stock certificate that represents the shares to be transferred, and the number of shares that will be transferred. Understanding Deed of Assignment: Definition, Uses, and Legal A deed of assignment is a legal document that transfers the ownership of a tangible or intangible asset from one party (assignor) to another (assignee). It is used to formalize the transfer of rights, interests, or benefits associated with the asset specified in the deed. This document is commonly used in various legal and financial transactions to ensure clarity and enforceability of the ... Deed of Assignment: Everything You Need to Know The Deed of Assignment is required to effect a transfer of property and to show the legal right to possess it. It is always a subject of debate whether Deed of Assignment is a contract; a Deed of Assignment is actually a contract where the owner (the "assignor") transfers ownership over certain property to another person (the "assignee ... SEC Opinion 21-03: Deed of Trust and Assignment over Share of Stock SEC Opinion 21-03: Deed of Trust and Assignment over Share of Stock. In SEC-OGC Opinion No. 21-03 dated February 18, 2021, the Securities and Exchange Commission ("SEC") resolved the following issues:Whether a company with nominee shareholder can register in its Stock and Transfer Book ("STB") and General Information Sheet ("GIS") the changes in nominee shareholders pursuant to an ... How Are Shares of Stocks Transferred? (Sec. 62, Revised Corporation Code) However, if the shares of stocks are not represented by a stock certificate, such as when the certificate has not yet been issued or when such certificate is not in the possession of the stockholder, the transfer must be: by means of a deed of assignment; and; such is duly recorded in the books of the ... PDF CORPORATION ASSIGNMENT OF DEED OF TRUST CORPORATION ASSIGNMENT OF DEED OF TRUST. TOGETHER with the note or notes therein described or referred to, the money due and to become due thereon with interest, and all rights accrued or to accrue under said Deed of Trust. personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are ... PDF Corporation Assignment of Deed of Trust ©2010 Bridgeway Financial Corporation assumes no liability pertaining to the use of this form. If you doubt this form's fitness for your purpose, consult an attorney. Corporation Assignment of Deed of Trust FOR VALUE RECEIVED, the undersigned corporation hereby grants, assigns, and transfers to_____ Deed Of Trust: What It Is And How It Works An assignment of trust deed is necessary if a lender sells a loan secured by a trust deed. It assigns the trust deed to whoever buys the loan (such as another lender), granting them all the rights ... Philippine Legal Resources: Deed of Assignment (Shares of Stock) Deed of Assignment (Shares of Stock) DEED OF ASSIGNMENT OF SHARES OF STOCK. KNOW ALL MEN BY THESE PRESENTS: This Deed of Assignment, made and executed this (Date) at ( Place), by and between: (NAME OF ASSIGNOR), of legal age, Filipino, single/married, and resident of (Place of Residence), and hereinafter referred to as the "ASSIGNOR"; - in ... How to transfer shares of stock in a corporation 2. Get an endorsement of the share. Once you have the documents, you may now endorse your stock certificate. The endorsement can come from you as an owner of the shares. 3. Deliver the stock certificate with a Deed showing the proof of transfer. After you have your stock certificate endorsed, you may then transfer it. Obtaining a Lien Release The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system. ... Assignment of a Real Estate Lien: Required Documentation for Obtaining an Assignment. Recorded Mortgage or Deed of Trust. Latah County Recorder Information, Idaho Deeds, grants and conveyances of real property $15.00. Trust deeds or mortgages of real property, including fixture filings (UCC mortgages), security agreements and assignments of leases and rents if contained within the same. instrument for recording $45.00 for first 30 pages, then $3.00 for each additional page. Property Records Research Our recorded land documents are now available for viewing on our website. If you would like official copies, please contact our office at (208) 883-2249, or visit our office at 522 S. Adams, Room 101, Moscow, Idaho 83843. Our copy fee is $1.00 per page, and or certification fee is $1.00 per document. Online record search results are limited to ... Monroe County PA Monroe County. One Quaker Plaza, Room 106. Stroudsburg, PA 18360. Phone: (570) 517-3969. Fax: (570) 517-3873. Hours: 8:30 am to 4:30 pm. Monday-Friday. Closed all major holidays. The Recorder of Deeds Office is open to the public for recording documents and title searches. Amoco Investments Corp. in MOSCOW RUSSIA XX Amoco Investments Corp. Overview. Amoco Investments Corp. filed as a Domestic Corporation in the State of Nevada and is no longer active.This corporate entity was filed approximately twenty-four years ago on Wednesday, November 3, 1999 as recorded in documents filed with Nevada Secretary of State. assignment essay homework paper phd report resume review speech thesis