ASSIGNEE

ASSIGNEE

assignee ([schwa]-sI-neeor as-[schwa]-nee). One to whom property rights or powers are transferred by another. ? Use of the term is so widespread that it is difficult to ascribe positive meaning to it with any specificity. Courts recognize the protean nature of the term and are therefore often forced to look to the intent of the assignor and assignee in making the assignment ¡ª rather than to the formality of the use of the term assignee ¡ª in defining rights and responsibilities.

¡ª Also termed assign. [Cases: Assignments 90. C.J.S. Assignments ¡ì¡ì 73, 84, 88.]

absolute assignee. A person who is assigned an unqualified interest in property in a transfer of some or all of the incidents of ownership.

assignee ad interim. An assignee appointed between the time of bankruptcy and the appointment of a regular assignee.

assignee for value. An assignee who has paid for or otherwise given consideration for the assignment.

collateral assignee. A lender who is assigned an interest in property (usu. real property) as security for a loan.

gratuitous assignee. An assignee under an assignment not given for value.

subassignee. A person to whom a right is assigned by one who is a previous assignee of the right.


TermBase Contributor
Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.