Assignee

Definition

  • As it relates to the insurance industry, an assignee is individual who is given ownership of another individual's insurance policy. For instance, if a father were to transfer the rights to his life insurance policy to his son, the father would be an assignor, and the son would be the assignee.
  • In real estate, it is the entity or person who is appointed to receive a property from another person or company.

Synonyms
taker, receiver, acceptor, buyer

Related Terms and Acronyms

  • Assignor Definition,
    • Conveyance Definition,
      • A document that transfers a property title.
      • To move something.
    • Estate Planning Definition,
      • The process of determining how assets will be dispersed after an individual's death, ideally in the most tax-efficient way possible.
    • Exchange Definition,
      • A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
    • Life Insurance Definition, Very Important,
      • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
      CanEquity offers life insurance.
    • Loss Payee Definition,
      • An entity that is legally entitled to the benefits of an insurance claim.
    • Mortgagee Definition, Important,
      • The lender in a mortgage transaction.
    • Payee Definition,
      • The name of the person to whom the money in a cheque is to go.
    • Payor Definition,
      • One who makes a payment to another party.
    • Transfer of Title (TOT) Acronym,
      • A document signed by the seller and purchaser transferring ownership, at which time the document is registered against the property.
    • Transferable Insurance Policy Definition,
      • A life insurance policy that can be sold to another party through a viatical settlement.
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