An assignment is a transfer of rights that a party has under a contract to another person, called an assignee. The assigning party is called the assignor. An assignee of a contract may generally sue directly on the contract rather than suing in the name of the assignor. The obligor is the person responsible to make payments to the assignee.
Notice of Default by Assignee to Obligor
Category:
State:
Multi-State
Control #:
US-01461BG
Format:
Word;
Rich Text
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Description Obligor Form
How to fill out Notice Assignee?
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Assignee Agreement FAQ
Obligee a person or organization to whom another party (the "obligor") owes an obligation. In a bonding situation, this is the party that requires and receives the protection of the bond.
A person who owes a legal obligation to another person. In the context of financing arrangements, an obligor is usually a debtor (for example, a borrower) or someone who has given security or a guarantee for the payment of a debt or the performance of an obligation.
The debtor or borrower, also called the mortgagor (in a mortgage) or obligor (in a deed of trust), is the person or entity who owes the debt or other obligation secured by the mortgage and owns the real property which is the subject of the loan.
Obligee is a person or entity to whom an obligation is owed. It is a term that is often used in contract law.
As nouns the difference between borrower and obligor is that borrower is one who borrows while obligor is (legalfinance) the party bearing a legal obligation to another party, the obligee.
An obligor, also known as a debtor, is a person or entity who is legally or contractually obliged to provide a benefit or payment to another. In a financial context, the term "obligor" refers to a bond issuer who is contractually bound to make all principal repayments and interest payments on outstanding debt.
As nouns the difference between obligor and guarantor is that obligor is (legalfinance) the party bearing a legal obligation to another party, the obligee while guarantor is a person, or company, that gives a guarantee.
In the law of secured transactions, a person that, with respect to an obligation secured by a security interest in or an agricultural lien on some collateral owes payment or other performance of the obligation, has provided property other than the collateral to secure payment or other performance of the obligation, or
