Assignor

Definition

  • As it relates to the insurance industry, an assignor is the owner of an insurance policy who agrees to transfer the rights of the policy to another individual. 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 appointed to transfer a property to another person or company.

Synonyms
appointor, giver, seller, provider

Related Terms and Acronyms

  • Assignee Definition,
    • A person appointed to acquire (take) an item, such as a property.
    • In the insurance industry, an assignee is someone who is assigned ownership of another person's insurance policy.
  • 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.
  • Mortgagor Definition,
    • The borrower in a mortgage transaction.
  • 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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