ASSIGNOR Meaning and
Definition
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An assignor is a term primarily used in legal contexts, referring to the person or entity who transfers or assigns their rights, ownership, or interests in a property, contract, or claim, to another person or entity, known as the assignee. This act of transferring rights or interests is called assignment, and the assignor is the party initiating this process. The assignor relinquishes their rights, benefits, obligations, or liabilities associated with the assigned property or contract, giving them up to the assignee.
The assignor often transfers these rights or interests through a written document called an assignment agreement or deed, which sets out the terms and conditions of the transfer. This could include the agreed-upon consideration or payment for the assignment, any restrictions or limitations on the assigned rights, and provisions for dispute resolution if conflicts arise.
The assignor can be an individual or a legal entity, such as a corporation or government agency, depending on the context. For example, in real estate transactions, an assignor can be the original property owner who wishes to transfer their rights to the property to a new buyer. In contractual agreements, an assignor may assign their contractual rights to another party, allowing that party to benefit from the contract's terms and conditions.
Overall, an assignor is the party transferring their rights, interests, or ownership in property or contracts to another party, enabling the assignee to assume those rights and obligations.
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Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for ASSIGNOR *
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Other Common Misspellings for ASSIGNOR
Etymology of ASSIGNOR
The word "assignor" is derived from the Latin word "assignare", which means "to assign" or "to allot". It comes from the combination of the prefix "ad-" (meaning "to" or "toward") and "signare" (meaning "to mark" or "to designate"). Over time, the Latin word evolved into Old French as "assigner", and eventually, it entered the English language as "assignor", retaining its original meaning of someone who assigns or transfers something to another party.
Similar spelling words for ASSIGNOR
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