sign a document transferring ownership from one party to another. Ownership can be in a number of forms, including tangible property, rights (usually arising out of contracts), or the right to transfer ownership at some later time. The party who assigns is the assignor and the party who receives the transfer of title-the assignment-is the assignee.
sign a document transferring ownership from one party to another. Ownership can be in a number of forms, including tangible property, rights (usually arising out of contracts), or the right to transfer ownership at some later time. The party who assigns is called the assignor and the party who receives the transfer of title-the assignment -is the assignee.
An assignment for the benefit of creditors, sometimes called simply an assignment, is an alternative to bankruptcy, whereby the assets of a company are assigned to the creditors and liquidated for their benefit by a trustee.
to transfer one's property rights or contract rights to another. Contracts commonly assigned include leases, mortgages, and deed of trust.
Example: Jones has the right, under a contract of sale, to conclude the purchase of a house. Jones may assign this right to someone else.
