Resources > Glossary > 1-4 Family Rider (Assignment of Rents)

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1-4 Family Rider (Assignment of Rents)

Function: noun

The Family Rider transfers the owner's right to collect rents to the lender. Another interesting feature of the Family Rider is that it could stipulate that additional property is subject to the security instrument such as appliances or heating and cooling equipment. In addition, a Family Rider can prohibit additional liens. Rent loss insurance, and assignment of rents can also be part of a Family Rider.