Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately


Synonyms:acceptor, buyer, receiver, taker
Filed Under: estate-management, insurance, legal-contracts, real-estate
Tags: contract, insurance, legal, life insurance, realty

Definition of assignee

1. In real estate, it is the entity or person who is appointed to receive a property from another person or company.
2. 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.

Related Terms and Acronyms:

  • assignor
  • conveyance   To move something.
  • estate planning   The process of determining how assets will be dispersed after an individual's death, ideally in the most tax-efficient way possible.
  • exchange   A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
  • 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.
      ➥  CanEquity offers life insurance.
  • loss payee   An entity that is legally entitled to the benefits of an insurance claim.
  • mortgagee   The lender in a mortgage transaction.
  • payee   The name of the person to whom the money in a cheque is to go.
  • transfer of title (TOT)   A document signed by the seller and purchaser transferring ownership, at which time the document is registered against the property.
  • transferable insurance policy   A life insurance policy that can be sold to another party through a viatical settlement.

More Related Terms and Acronyms

Search the Glossary

Canadian Mortgage Calculator
We've taken it all apart and put it back together again — bigger and better than ever. The new mortgage calculator adds dozens of new features including a number of automatically generated charts and graphs designed to aid you in finding the best mortgage for you.
Mortgage Calculator Try it
Best Mortgage Rates
With a lower mortgage rate, it's easier to afford a better home and what you save on interest can go directly toward paying off the principal value of your property faster. Make sure you get the best rates in Canada on your mortgage, apply today.
Mortgage Rates
Best Rates Countrywide
We do our best to ensure that the best rates advertised on our website are available to Canadians everywhere. Coast to coast, we offer low rate mortgages with flexible options.
Best Rates Countrywide