A valid assignment takes effect the moment it is made regardless of whether notice of the assignment is given to the other party to the contract. If the obligor is notified that there has been an assignment and that any money due must be paid to the assignee, the obligor's obligation can only be discharged by making payment to the assignee. In other words, payment to the assignor would not satisfy the contract after notice.
Michigan Notice of Assignment by Assignee of Right to Payments is a legal document used to inform the debtor (the party making payment) that their obligation to make payments has been transferred or assigned to a new party known as the assignee. This notice is typically used in situations where an individual or entity has chosen to assign their right to receive payments to another party for various reasons, such as debt collection, inheritance, or contractual arrangements. The Michigan Notice of Assignment by Assignee of Right to Payments serves as a formal notification to the debtor about the change in payment recipient and ensures that future payments are directed to the assignee. By sending this notice, the assignee establishes their legal rights to collect payments and alerts the debtor to cease making payments to the assignor and instead remit them to the assignee. It also acts as evidence in case of any disputes or challenges regarding the assignment of payment rights. Keywords: Michigan, Notice of Assignment, Assignee, Right to Payments, debtor, transfer, assignor, formal notification, legal rights, collect payments, remit, disputes, challenges. Different types of Michigan Notice of Assignment by Assignee of Right to Payments may include: 1. Michigan Notice of Assignment for Debt Collection: This type of notice is used when a creditor assigns their right to receive debt repayments to a collection agency or third-party debt collector. This allows the assignee to take legal action to recover overdue or outstanding debts on behalf of the assignor. 2. Michigan Notice of Assignment for Inheritance: In cases involving inheritance, beneficiaries may choose to assign their rights to future payments, such as annuities, royalties, or pension benefits, to another person or entity. This notice informs the payer that payments should be directed to the new assignee. 3. Michigan Notice of Assignment for Contractual Arrangements: Individuals or businesses may enter into agreements where the right to receive payments is assigned to another party. This type of notice is used to notify the debtor about the change in payment recipient and ensure smooth processing of future payments according to the terms of the contract. By utilizing the Michigan Notice of Assignment by Assignee of Right to Payments, assignees can establish their legal rights to collect payments and maintain clear communication with debtors, beneficiaries, or other relevant parties involved in the payment transfer process.
