A chose in action is essentially a right to sue. It is an intangible personal property right recognized and protected by the law, that has no existence apart from the recognition given by the law, and that confers no present possession of a tangible ob
California Assignment of Money Judgment is a legal process by which a creditor can transfer or assign their right to collect a money judgment to another party. This allows the creditor, also known as the assignor, to transfer the responsibility of collecting the debt to a third party, known as the assignee. The assignee then becomes the new holder of the judgment and assumes the right to enforce its collection. In California, there are two main types of Assignment of Money Judgment: voluntary and involuntary. Voluntary Assignment of Money Judgment occurs when the creditor willingly transfers their right to collect the judgment to another party. This could be done for various reasons, such as if the original creditor lacks the resources or time to pursue the debtor for payment. The assignment is typically done through a written agreement between the assignor and the assignee, outlining the terms, conditions, and consideration involved in the transfer. On the other hand, Involuntary Assignment of Money Judgment may occur without the original creditor's consent. This can happen when a judgment creditor sells their rights to a collection agency or when a debtor's assets are seized and sold by court order to satisfy the outstanding judgment. In these cases, the court oversees the assignment process to ensure fairness and transparency. The California Assignment of Money Judgment process generally involves filing a notice of assignment with the court where the initial judgment was obtained. This notice informs the court, the debtor, and any interested parties about the transfer of the judgment to the assignee. Additionally, the assignee usually records the assignment with the county recorder's office to provide public notice of their rights to collect on the judgment. Once the Assignment of Money Judgment is completed, the assignee assumes all rights, title, and interest in the judgment, including the right to enforce the collection through legal means. The assignee may proceed to collect the judgment by various methods, such as wage garnishment, bank levies, or liens on the debtor's property. In summary, the California Assignment of Money Judgment allows the transfer of a creditor's right to collect a money judgment to another party. Whether voluntary or involuntary, this legal process enables the assignee to pursue the debt on behalf of the original creditor, with the ultimate goal of obtaining payment from the debtor.
