It shall not be necessary in order to effect a valid assignment of a note and deed
of trust, mortgage, or other agreement pledging real property or an interest in real
property as security for an obligation, to record a written assignment in the office
of the register of deeds in the county in which the real property is located. A transfer of the promissory note or other instrument secured by the deed of trust,
mortgage, or other security interest that constitutes an effective assignment under
the law of this State shall be an effective assignment of the deed of trust, mortgage,
or other security instrument. The assignee of the note shall have the right to enforce all obligations contained
in the promissory note or other agreement, and all the rights of the assignor in the
deed of trust, mortgage, or other security instrument, including the right to substitute
the trustee named in any deed of trust, and to exercise any power of sale contained
in the instrument without restriction. The provisions of this section do not preclude the recordation of a written assignment
of a deed of trust, mortgage, or other security instrument, with or without the promissory
note or other instrument that it secures, provided that the assignment complies with
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