Assignment With A Returned Value In New York
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is a legal document utilized in New York for the assignment of a specific debt from one party, the Assignor, to another party, the Assignee. This form allows the Assignor to transfer all rights, title, and interest in the specified debt, ensuring that the Assignee takes on the responsibility of collection. Notably, this assignment is a non-recourse agreement, meaning the Assignee cannot pursue further claims against the Assignor beyond the assigned debt. Users must detail the specific debt being assigned, including the amount due and any relevant dates. It is essential for the Assignor to guarantee the validity of the debt, providing assurance to the Assignee regarding its legitimacy. This form is particularly useful for attorneys, partners, and legal assistants involved in debt collection or transfer processes. It streamlines the transfer of rights while protecting the interests of both parties. For legal professionals, understanding this form facilitates efficient debt management and ensures compliance with New York's legal standards.
