Assignee

Business, Legal & Accounting Glossary

Definition: Assignee


Assignee

Quick Summary of Assignee


A person to whom a property right is transferred. For example, an assignee may take over a lease from a tenant who wants to permanently move out before the lease expires. The assignee takes control of the property and assumes all the legal rights and responsibilities of the tenant, including payment of rent. However, the original tenant remains legally responsible if the assignee fails to pay the rent.




What is the dictionary definition of Assignee?

Dictionary Definition


n. a person to whom property is transferred by sale or gift, particularly real property.


Full Definition of Assignee


Individual to whom a title, claim, property, interest, or right has been transferred.


Examples of Assignee in a sentence


When Howard Maxwell finally died all of his assets were transferred to the assignee as laid out in his will.

I had been the assignee of the property after grandma died, and the memories still flooded back to me after all these years.

The assignee of the title took ownership last month according the the county’s website which lists the title history free for the public.


Related Phrases


assignor


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/assignee/
Modern Language Association (MLA):
Assignee. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
January 26, 2022 https://payrollheaven.com/define/assignee/.
Chicago Manual of Style (CMS):
Assignee. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/assignee/ (accessed: January 26, 2022).
American Psychological Association (APA):
Assignee. PayrollHeaven.com. Retrieved January 26, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/assignee/

Definition Sources


Definitions for Assignee are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th November, 2021 | 1 Views.