"Assignee" Defined

ASSIGNEE

A person or entity to whom an assignment of rights or property has been made. For example, a payee may assign his or her rights to receive the payments under a promissory note to a third person.

Assignees are either assignees in fact or assignees in law. An assignee in fact is one to whom an assignment has been made in fact by the party having the right. An assignee in law is one in whom the law vest's the right, as an executor or administrator.

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