Assignment Due Form For Lic Policy In Michigan
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment Due Form for LIC Policy in Michigan is a legal document designed for the transfer of rights to collect a specific debt from one party, known as the Assignor, to another, referred to as the Assignee. Key features of this form include the requirement to clearly identify the debt being assigned, including details such as the amount owed and the due date. The form expressly states that the assignment is non-recourse, meaning the Assignee is responsible for collection, while the Assignor guarantees the validity of the debt. It is essential to fill in the appropriate names, debt descriptions, and execution dates correctly. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants working in debt collection, litigation, or business transactions. By using this form, legal professionals can streamline the process of transferring debt rights, ensuring compliance with Michigan's legal standards. Proper completion of this form aids in preserving the rights of the parties involved and provides a clear legal record of the assignment. Overall, this document serves as a vital tool for managing debts and ensuring equitable transactions.
