An assignment is a transfer of rights that a party has under a contract to another person, called an assignee. The assigning party is called the assignor. If the obligor (person obligated to pay) is notified that there has been an assignment and that any money due must be paid to the assignee, the obligor's obligation can only be discharged by making payment to the assignee. In other words, payment to the assignor would not satisfy the contract after notice. If the obligor does not know of the assignment and makes payments to the assignor who does not turn the money over to the assignee, the assignee cannot sue the obligor, but does have a remedy against the assignor. However, if the obligor both knows of the assignment and has been notified to make future payments to the assignee, any payments made by the obligor to the assignor have no effect and do not reduce the debt of the obligor.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.Memphis Tennessee Nota de encargo - Notice of Assignment
Category:
State:
Multi-State
City:
Memphis
Control #:
US-03007BG
Format:
Word
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