Assignments most commonly relate to security interests (mortgages and debentures) and therefore most commonly appear in the recorded interest section of the AFR or on a Form 26 if already dealing with a land registration parcel.
The important thing to remember is that the assignment needs to appear in the same section of the parcel register as the interest that is being assigned.
A burden holder can assign the interest that they hold to another party. In this case, because the assignment relates to a burden, the interest of the assignee would have to appear in the burden section as well.
Assignee is only a valid interest type under the recorded interest section.
If the assignment relates to a burden, the interest holder type to be added cannot be assignee. It must be one of the valid interest holder types under the burden section, i.e. Covenant Holder (Burden), Party to Agreement (Burden), etc. This applies whether the interest is being shown on an AFR or is being added by a subsequent Form 24. As is the case with an assignment of a mortgage or judgment, the submitter must instruct us to change the current burden holder name to “Interest Assigned” as well as adding the assignee as an interest holder name with the interest type of Party to Agreement – Burden.
This is not that common a scenario but will occur from time to time. In these cases, we must require the submitter to select an interest type in the category where the interest belongs to ensure that it ends up in the correct section of the parcel register