ASSIGNEE

assignee (<<schwa>>-sI-neeor as-<<schwa>>-nee). One to whom property rights or powers

are transferred by another. • Use of the term is so widespread that it is difficult to ascribe positive

meaning  to  it  with  any  specificity.  Courts  recognize  the  protean  nature  of  the  term  and  are

therefore often forced to look to the intent of the assignor and assignee in making the assignment

—  rather  than  to  the  formality  of  the  use  of  the  term  assignee  —  in  defining  rights  and

responsibilities. — Also termed assign. [Cases: Assignments    90. C.J.S. Assignments §§ 73, 84,

88.]

absolute assignee.A person who is assigned an unqualified interest in property in a transfer of

some or all of the incidents of ownership.

assignee  ad  interim.An  assignee  appointed  between  the  time  of  bankruptcy  and  the

appointment of a regular assignee.

assignee  for  value.An  assignee  who  has  paid  for  or  otherwise  given  consideration  for  the

assignment.

collateral  assignee.A  lender  who  is  assigned  an  interest  in  property  (usu.  real  property)  as

security for a loan.

gratuitous assignee.An assignee under an assignment not given for value.

subassignee. A person to whom a right is assigned by one who is a previous assignee of the

right.[Blacks Law 8th]