GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Assignor

Synonyms:	appointor, giver, provider, seller
Filed Under:	estate-management, insurance, legal-contracts, real-estate
Tags:	contract, insurance, legal, life insurance, realty

assignor: 1. In real estate, it is the entity or person appointed to transfer a property to another person or company.; 2. 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.

assignee A person appointed to acquire (take) an item, such as a property.
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.
mortgagor The borrower in a mortgage transaction.
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.