Assignment With A Returned Value In Virginia
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment with a returned value in Virginia is a legal form that enables an individual or entity, known as the Assignor, to transfer their rights to collect a specific debt to another party, referred to as the Assignee. This form is essential for documenting the assignment of money due, ensuring a clear understanding of responsibilities and rights regarding the debt specified. Key features include a section to detail the nature of the debt, such as the amount owed and the due date, as well as an acknowledgment of the validity of the debt by the Assignor. It is important to note that this assignment is non-recourse, meaning that the Assignee is solely responsible for collecting the debt. Individuals in legal professions—such as attorneys, partners, owners, associates, paralegals, and legal assistants—will find this form useful in situations involving debt collection, asset management, or legal negotiations. Filling instructions necessitate that users carefully outline the debt details and ensure both parties sign the document to confirm the assignment. This form is especially relevant when dealing with commercial transactions or settling accounts, providing a straightforward means to formalize the transfer of debt rights.
