Definition from Nolo’s Plain-English Law Dictionary
A person to whom a property right is transferred. For example, an assignee may take over a lease from a tenant who wants to permanently move out before the lease expires. The assignee takes control of the property and assumes all the legal rights and responsibilities of the tenant, including payment of rent. However, the original tenant remains legally responsible if the assignee fails to pay the rent.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm