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Vermont General Assignment Agreement

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Vermont General Assignment Agreement Powered By Docstoc
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                             This General Assignment Agreement is a contract whereby an insolvent entity ("Assignor")
                             transfers legal and equitable title, as well as control of its property, to a third party
                             ("Assignor") in trust, to apply the proceeds of sale to the assignor's creditors. A general
                             assignment is an alternative to bankruptcy and is structured to save time and expense in
                             concluding the affairs of an insolvent company. Through a general assignment, the
                             insolvent company's assets can be sold quickly and efficiently, and the liquidation proceeds
                             will be distributed to creditors shortly thereafter. This document should be used by
                             insolvent companies located in Vermont as an alternative to filing bankruptcy.
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                                   GENERAL ASSIGNMENT

THIS GENERAL ASSIGNMENT (hereinafter the “Assignment”) is entered into by and between
_______________________________ [Instruction: Insert the name of assignor], having an
address of _______________________________ [Instruction: Insert the address of assignor]
(hereinafter the “Assignor”) and _______________________________ [Instruction: Insert the
name of assignee], having an address of _______________________________ [Instruction:
Insert the address of assignee] (hereinafter the “Assignee”) on this ____ [Month] ____ [Date],
20____.

FOR GOOD AND VALUABLE CONSIDERATION RECEIVED, the Assignor hereby
unconditionally and irrevocably assigns, grants, and transfers all rights, title, interest, and
obligation in, to and under the following to the Assignee:

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

The Assignor hereby warrants and represents that the Assignor possesses full right and authority
to enter into this Assignment and to transfer the aforementioned rights, title, interest, and
obligations.

The Assignor warrants and represents that the aforementioned rights, title, interest, and benefits
are free from all liens, encumbrances, or adverse claims.

The Assignment shall be binding upon and inure to the benefit of the Assignor and the Assignee,
and to their successors, assigns, and personal representatives.

Signed this ____ [Month] ____ [Date], 20____.




______________________________                                 ____________________________
     Assignor’s Signature                                            Assignee’s Signature



_______________________________                                ____________________________
     Assignor’s Printed Name                                       Assignee’s Printed Name


_______________________________                                  ____________________________
      Witness 1’s Signature                 
				
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Description: This General Assignment Agreement is a contract whereby an insolvent entity ("Assignor") transfers legal and equitable title, as well as control of its property, to a third party ("Assignor") in trust, to apply the proceeds of sale to the assignor's creditors. A general assignment is an alternative to bankruptcy and is structured to save time and expense in concluding the affairs of an insolvent company. Through a general assignment, the insolvent company's assets can be sold quickly and efficiently, and the liquidation proceeds will be distributed to creditors shortly thereafter. This document should be used by insolvent companies located in Vermont as an alternative to filing bankruptcy.