Who generally benefits the most from an assignment of rent clause contained in a trust deed?

The trustee merely holds legal title as a neutral third party and has no economic interest in the property or rents. Their role is administrative, not benefiting from the assignment of rents clause.

While the beneficiary receives the rents if assigned, this is primarily for security purposes to protect their loan investment. The trustor benefits more through potentially better loan terms secured by this provision.

The purchaser has no direct relationship with the trust deed or assignment of rents clause unless they acquire the property subject to the existing trust deed, at which point they would assume its terms but not benefit from them.