Assignment On Money And Banking In Pennsylvania
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due is a legal document used in Pennsylvania to transfer rights to a specific debt from one party (the Assignor) to another (the Assignee). This form acknowledges the receipt and sufficiency of value received for the debt being assigned. Key features include a detailed description of the debt, such as the account name, amount due, and due date, ensuring clarity on what is being assigned. The assignment is labeled as non-recourse, indicating that while the Assignee is responsible for collection, the Assignor guarantees the validity of the debt. Filling out the form requires inserting the names of both parties and providing a clear description of the debt owed. Once executed, the form should be signed and dated by both the Assignor and Assignee to validate the transaction. This document is particularly useful for attorneys, partners, and owners involved in financial transactions, as well as paralegals and legal assistants who assist in drafting and processing such agreements. By providing a structured approach to debt assignments, it helps streamline financial dealings and mitigate potential disputes.
