Assignment For Money In Pennsylvania
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment for Money in Pennsylvania is a legal form used to transfer rights to collect a specified debt from one party (the Assignor) to another (the Assignee). This document outlines the essential details of the debt being assigned, including the amount and due date, while providing a clear record of the transaction. Notably, this is a non-recourse assignment, meaning the Assignee is solely responsible for collection. Furthermore, the Assignor guarantees the validity of the debt and agrees to defend this warranty if challenged. The target audience for this form includes attorneys, partners, owners, associates, paralegals, and legal assistants who may require a straightforward method of transferring debt rightfully owed. Proper completion of the form entails accurately detailing the debt and obtaining signatures from both parties to validate the agreement. This form is particularly useful in business transactions where debts need to be formally assigned and documented, ensuring that all parties have a clear understanding of their rights and responsibilities related to the debt.
