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From:
Subject: Re: [VACULPEP] Definition of term "assignee"
Date: Thu, 7 Dec 2000 18:35:21 EST



In a message dated 12/7/2000 2:14:40 PM, writes:

<< Could some knowledgeable person on this list explain what is meant by the
term "assignee" as found in court documents, i.e., "A" assignee of "B",
assignee of "C", etc.? >>

A convenient way to raise quick cash. You just "assign" your right in
whatever property you own (specified in the deed) to someone else, for a
price. This usually applied to land warrants but could apply to any
property. Sort of the equivalent of a quit-claim deed. However, it could
also apply to a note (debt) or almost any other sort of property, real or
personal. For example, Person A borrows from person B $100. Person B
assigns the "note" for $100 to Person "C" for $80. Now Person "C" owns the
note for $100, and person "B" is out of the loop. It is up to Person "C" to
collect the $100 plus interest from Person "A". Person "A" has no control
over owns the note, since he allowed Person "B or his assigns" to own it in
the original agreement ("or his assigns").

Craig

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