assignment

  • 1.

    A legal grant of a right, privilege, benefit, or property, usually conveyed by written document. An assignment often transfers property from a debtor to be sold to benefit creditors.

    Oregon Secretary of State Archives Division 1
    See also conveyance
  • 2.

    The transfer of interest under a policy from one entity to another. An assignment requires the consent of the company.

    Internal Revenue Service 2

1Oregon Secretary of State Archives Division, Oregon Historical County Records Guide: Glossary of Terms, http://­www.sos.state.or.us/­archives/­county/­cpglossary.html (last accessed May 27, 2009).

2Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).