What is an Assignor?
An assignor is an individual, organization or entity who transfers rights they hold to another object — the assignor transfers to the assignee. For instance, a party that registers into a contract to sell a portion of a business or a property can assign the proceeds or benefits of the deal to a third party. Each kind of assignment can bring a different set of arrangements with specific duties, such as intellectual property rights, having special conditions that must be met. It is possible that an assignor admits power of attorney to an assignee without limitations, which would give the assignee the ability to deciding the assignor’s assets and business holdings without oversight from any other entity. Such rights would enable the assignee to make broad and permanent decisions concerning the assignor’s businesses.
An assignor can further be a person who offers rights to administer their will upon their death. The assignee would be an agent or other representative given the rights to see to the approach of the decedent’s estate. Such analyses might otherwise pass to a surviving spouse or an eligible beneficiary. The assignor might choose a trusted partner or relative to be accountable for disposing of their assets and repaying creditors with their assets. The rights the assignor grants with such an assignment can still be replaced by specific legal action.