- 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.
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,
➥ CanEquity offers life insurance.
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
- 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.