Assignment With A Returned Value In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is a legal document used to transfer a specific debt or money due from one party, the Assignor, to another party, the Assignee. This document highlights the details of the debt being assigned, including the amount owed and the nature of the obligation. A key feature of this form is that it is a non-recourse assignment, meaning the Assignee is responsible for collecting the debt without recourse to the Assignor for failure to do so, although the Assignor warrants the validity of the debt. Users filling out this form should provide detailed descriptions of the debt and ensure accurate completion of all sections to avoid future disputes. It is primarily used by professionals in the legal field, including attorneys, partners, owners, associates, paralegals, and legal assistants for tasks such as debt collection, asset management, or financing transactions. Importantly, users must understand the implications of non-recourse assignments and may wish to consult legal counsel to ensure compliance with relevant laws. The form should be executed in the presence of witnesses, where applicable, to ensure its enforceability.
