Assignment Of Money Due In King
Category:
State:
Multi-State
County:
King
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due in King is a legal document utilized to transfer rights to collect a specified debt from one party, known as the Assignor, to another party, referred to as the Assignee. This form outlines the details of the debt, including the amount due, the date, and any corresponding evidence, ensuring clarity on what is being assigned. It is important to note that this assignment is non-recourse, meaning the Assignee is solely responsible for collecting the debt, while the Assignor guarantees the validity of the obligation. This form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it streamlines the debt transfer process, mitigates risks by clearly defining each party's responsibilities, and enhances legal certainty. Filling out the form requires precision, as users must accurately describe the debt and sign in the designated areas. Legal professionals can use this document when facilitating debt sales, collections, or business transactions where debts are involved, ensuring compliance and clarity throughout the process.
