Assignee is a person to whom a right is transferred by the person holding such rights under the transferred contract (the “assignor”). The act of transferring is referred to as “assigning” or “assignment” and is a concept found in both...
property & real estate law
assignment
Assignment is a legal term whereby an individual, the “assignor,” transfers rights, property, or other benefits to another known as the “assignee.” This concept is used in both contract and property law. The term can refer to either the act of...
assignment for benefit of creditors
Assignment for the benefit of the creditors (ABC)(also known as general assignment for the benefit of the creditors) is a voluntary alternative to formal bankruptcy proceedings that transfers all of the assets from a debtor to a trust for...
assumable mortgage
Assumable mortgage is a term for mortgages that can be transferred to another person. If a mortgage is assumable, the selling owner transfers the title and mortgage to the buyer instead of the buyer getting a different mortgage. This process...
assume
To assume means to undertake. Generally, in legal contexts, to assume means to take over a certain duty or responsibility. For example, Alice may assume Bob’s liability for a debt (Alice may take over Bob’s debt).
In...
assumption
An assumption is an assertion or statement that is taken as true or supposed as a fact without proof or substantiating evidence. An assumption may also be the act of taking over (another individual or entity’s) duty or responsibility.
...attached
Attached property is property that has been seized pursuant to a court order, either as a provisional pre-judgment remedy or for the enforcement of a final judgment. Property may be attached only after the commencement of a lawsuit. In a pre-...
attachment
An attachment is a court order seizing specific property. Attachment is used both as a pre-trial provisional remedy and to enforce a final judgment.
Sometimes, courts attach a defendant's property as a provisional remedy to...
attractive nuisance
Attractive nuisance is a dangerous condition on a landowner's property that may particularly attract children onto the land and pose a risk to their safety. The attractive-nuisance doctrine imposes a duty on property owners to treat...
attractive nuisance doctrine
Attractive nuisance is a dangerous condition on a landowner's property that may particularly attract children onto the land and pose a risk to their safety. In tort law, the attractive-nuisance doctrine imposes a duty on property owners to...