Within ten days of a property transaction involving a change in the identity of an owner or the owner of record, or alternatively a transfer/assignment of a loan or deed of trust secured by residential property, each beneficiary and trustee engaged in said transaction or transfer/assignment shall record, via the Riverside County Recorder's Office, an assignment of rents, or similar instrument. This instrument shall reflect the identity, mailing address and telephone number of the trustee and beneficiary responsible for receiving payments associated with the loan or deed of trust in question. This duty/obligation shall be joint and several among and between all trustees and beneficiaries and their respective agents.
(Ord. 1530, passed 3-5-08)