What is an assignor?

If you are dealing with legal or property matters, you might come across the term ‘assignor’ but may not know what it means. Let’s break it down in simple terms so you know exactly what is going on when you hear the word. This could be important; after all, more information is better than not enough. Read on to find out more.

The basics: who is the assignor?

In the most straightforward terms, the assignor is the person or party who is transferring their rights or interests in something to someone else. This could be property, contracts, or even intellectual property. The best way to think of it is like this: the assignor is handing over the baton, passing their legal rights to the next person in line, known as the assignee. With property, there always needs to be a legal document to make things right.

Where does the assignor fit in with a deed of assignment?

A deed of assignment is a legal document that officially transfers ownership or interest from one party to another. The assignor is the party who is giving up their rights or interest in the property, contract, or asset. They are giving the ownership or interest away to the person known as the assignee; for example, in a property transaction, the assignor might transfer their beneficial interest in a property to someone else through a deed of assignment. Once the document is signed, the assignee gains the rights while the assignor walks away without them.

Why is understanding the assignor important?

Knowing who the assignor is, and their role in the process, helps you understand the transfer of ownership or rights. If you are part of a legal transaction involving an assignor, it is important to understand how the process works to ensure everything is completed properly and legally.

When you hear the term ‘assignor’, just think of the person giving up their rights in a deed of assignment. Of course, there is more to it, but this is where the experts come in, and it is always wise to consult them.