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.
Missouri Notice of Assignment by Assignee of Right to Payments is a legal document used in the state of Missouri to notify a debtor that their right to make payments has been assigned to another party, called the assignee. This document is commonly utilized in situations such as debt settlements, loan transfers, or when a creditor decides to transfer their right to receive payments to a third party. The purpose of this notice is to inform the debtor about the change in payment recipient and provide details about the assignee. It serves as an official acknowledgment that the assignee has assumed the rights to collect payments and is entitled to receive them as per the original agreement. Keywords: Missouri, Notice of Assignment, Assignee, Right to Payments, legal document, debtor, payment recipient, debt settlements, loan transfers, creditor, third party, collect payments, original agreement. There are various types of Missouri Notice of Assignment by Assignee of Right to Payments, depending on the specific situation. Here are a few examples: 1. Missouri Notice of Assignment by Assignee of Right to Mortgage Payments: This type of notice is used when the right to receive mortgage payments is assigned to a new party. It outlines the new payment arrangements and provides instructions on where and how the debtor should make future mortgage payments. 2. Missouri Notice of Assignment by Assignee of Right to Lease Payments: In the case of lease agreements, this notice is used to inform the tenant that the assignee has the right to collect future rental payments. It includes details about the assignee and provides instructions on how and where the tenant should submit future rent payments. 3. Missouri Notice of Assignment by Assignee of Right to Structured Settlement Payments: When a person receives structured settlement payments, which are periodic payments from a settled lawsuit or insurance claim, this notice is used to inform the recipient that the right to receive those payments has been assigned to another party. It specifies the new payment recipient and provides instructions on how future payments should be made. 4. Missouri Notice of Assignment by Assignee of Right to Accounts Receivable Payments: In business contexts, this notice is used to inform customers that their outstanding payments are now owed to a different party. It explains the reason behind the assignment and provides details about the assignee, ensuring that customers are aware of where and how to make future payments. Keywords: Notice of Assignment, Mortgage Payments, Lease Payments, Structured Settlement Payments, Accounts Receivable Payments, tenant, rental payments, structured settlement, insurance claim, periodic payments, business contexts, outstanding payments, customers.
