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
Idaho Assignment of Money Judgment: A Comprehensive Overview In Idaho, an Assignment of Money Judgment refers to a legal process wherein a judgment creditor transfers their right to collect a debt or monetary judgment to another individual or entity known as the assignee. The assignee, upon receiving the assignment, assumes the responsibility of collecting the debt on behalf of the original judgment creditor. Keywords: Idaho Assignment of Money Judgment, legal process, judgment creditor, transfer, collect, debt, monetary judgment, assignee. Types of Idaho Assignment of Money Judgments: 1. Voluntary Assignment: A voluntary assignment occurs when the judgment creditor willingly transfers their rights to collect the money judgment to another party. This may be done for various reasons, such as wanting to liquidate the judgment more quickly or to delegate the collection efforts to a specialized entity. Keywords: Voluntary Assignment, willingly, transfer, rights, collect, money judgment, liquidate, collection efforts, specialized entity. 2. Involuntary Assignment: In some cases, a judgment creditor's right to collect a money judgment may be involuntarily assigned by a court order or through a legal process. This usually happens when the judgment creditor has failed to satisfy the judgment themselves or when there are outstanding debts owed to other parties. Keywords: Involuntary Assignment, court order, legal process, failed to satisfy, outstanding debts, other parties. 3. Equitable Assignment: Equitable assignments operate under principles of fairness and equity. In circumstances where there is no explicit written assignment agreement, the court may recognize an equitable assignment if there is evidence of an intention to assign the money judgment. Keywords: Equitable Assignment, fairness, equity, explicit written assignment agreement, court, evidence, intention. 4. Absolute Assignment: An absolute assignment of a money judgment occurs when the judgment creditor transfers all their rights, title, and interest in the judgment to the assignee without retaining any future claims or interests in the debt. This type of assignment provides the assignee with complete control and ownership of the judgment. Keywords: Absolute Assignment, all rights, title, interest, transfer, assignee, future claims, interests, complete control, ownership. 5. Conditional Assignment: A conditional assignment of a money judgment imposes certain conditions or restrictions on the transfer. These conditions may include specific requirements for the assignee to fulfill before the assignment becomes effective or limitations on the assignee's rights to enforce the judgment. Keywords: Conditional Assignment, conditions, restrictions, transfer, requirements, effective, limitations, enforce. It is important to consult with a knowledgeable attorney familiar with Idaho law to understand the specific rules and requirements related to Assignment of Money Judgments in the state. Legal advice tailored to your unique circumstances will ensure a proper and compliant assignment process.
