Business, Legal & Accounting Glossary
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.
n. a person to whom property is transferred by sale or gift, particularly real property.
Individual to whom a title, claim, property, interest, or right has been transferred.
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.
assignor
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This glossary post was last updated: 6th November, 2021 | 0 Views.