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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. Unless there is a statute that requires that certain language be used in an assignment or that the assignment be in writing, there are really no formal requirements for an assignment. Any words which show the intent to transfer rights under a contract are sufficient to constitute an assignment.
General Assignment BE IT KNOWN, for good and valuable consideration, the receipt of which is hereby recognized, the undersigned (Name of Assignor), hereinafter called Assignor, whose address is (street address, city, state, zip code), hereby unconditionally and irrevocably assigns and transfers unto (Name of Assignee), hereinafter called Assignee, whose address is (street address, city, state, zip code), all rights, title, and interest in and to the following: (describe property being assigned). The undersigned Assignor fully warrants that it has full rights and authority to enter into this Assignment and that the rights and benefits assigned hereunder are free and clear of any lien, encumbrance, adverse claim or interest by any third party. Signed this _____day of ___________________, 20______. ___________________________ (Signature of Assignor) (Printed Name of Assignor)
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