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
Washington Assignment of Money Judgment is a legal process that allows a party (known as the assignor) holding a money judgment against another party (known as the judgment debtor) to transfer or assign their rights to collect the judgment to a third party (known as the assignee). This process is governed by Washington state laws and regulations. The Assignment of Money Judgment in Washington is often sought when the assignor wants to receive immediate payment for the judgment amount, rather than waiting for the judgment debtor to pay. By assigning the judgment, the assignor eliminates the need to pursue collection efforts themselves and shifts the responsibility to the assignee. There are various types of Washington Assignment of Money Judgment, including: 1. Absolute Assignment: This type of assignment completely transfers the assignor's rights and interests in the money judgment to the assignee. The assignee becomes the new owner of the judgment and assumes all rights and responsibilities associated with its collection. 2. Conditional Assignment: In a conditional assignment, the assignor transfers their rights to the assignee with certain conditions attached. For example, the assignor may require the assignee to pay a specific amount upfront or provide a guarantee of payment. 3. Partial Assignment: In certain cases, the assignor may choose to assign only a portion of the money judgment to the assignee. The remaining portion remains with the assignor, who can continue to pursue collection efforts independently. 4. Outright Purchase: Instead of assigning the judgment, the assignor may choose to sell the money judgment to a third party. In this case, the assignor receives immediate payment for the judgment, and the purchaser assumes all rights and responsibilities associated with its collection. It is important to note that Washington Assignment of Money Judgment must comply with legal requirements and procedures. The assignee should consult an attorney to ensure all necessary documents are correctly prepared and filed with the court. Additionally, the judgment debtor must be properly notified of the assignment to avoid any confusion or disputes. Overall, Washington Assignment of Money Judgment provides a practical solution for judgment creditors to expedite the collection process by transferring their rights to a willing assignee. This enables assignors to receive immediate payment while relieving them of the burden of enforcing the judgment themselves.
