564 CHAPTER Twenty-Seven

564 CHAPTER Twenty-Seven

ASSESSMENT — The valuation of property for the purpose of levying a tax or the amount of the tax levied. Also, payments made to a common interest subdivision homeowners- association for maintenance and reserves. ASSESSOR — The official who has the responsibility of determining assessed values. ASSIGNMENT — A transfer to another of any property in possession or in action, or of any estate or right therein. A transfer by a person of that person’s rights under a contract. ASSIGNMENT OF RENTS — A provision in a deed of trust (or mortgage) under which the beneficiary may, the loan balance and the costs incurred by the beneficiary. ASSIGNOR — One who assigns or transfers property.