Money Owed For In King
Category:
State:
Multi-State
County:
King
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is a legal document used to transfer the rights and interests in a specific debt from one party, the Assignor, to another, the Assignee. This form acknowledges the receipt of value in exchange for the assigned debt, which should be clearly described within the document. Users must ensure that the debt being assigned is valid, as the Assignor warrants its legitimacy but the Assignee is responsible for collection efforts. This form operates as a non-recourse assignment, meaning that the Assignor will not be liable for the collection of the debt once it is transferred. Attorneys, partners, owners, associates, paralegals, and legal assistants may find this form particularly useful when dealing with business transactions involving outstanding debts. It simplifies the process of debt transfer while offering legal protection for both parties. Proper filling instructions include detailing the debt amount, specifying the parties involved, and signing the document in front of witnesses. This ensures that both Assignor and Assignee understand their rights and obligations under this agreement.
