Transfer of Claim Other Than For Security is a type of transaction where the ownership of a claim is transferred from one party to another, without involving the exchange of securities or other assets. This type of transaction is commonly used to transfer the ownership of a debt, loan, or other obligation such as a court judgment or royalty payments. The transfer can take place between two parties or between multiple parties. There are two main types of Transfer of Claim Other Than For Security: assignment and novation. In an assignment, the original party (the assignor) transfers their rights and obligations on the claim to a third-party (the assignee). In a novation, the original party (the nova tor) transfers the rights and obligations on the claim to a new party (the nova tee), while the original party is released from any further obligations.