Assignment On Money And Credit Class 10 In Virginia
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is a legal document used in Virginia for the transfer of rights to collect a debt. It specifies the assignor, who is the party transferring the rights, and the assignee, who is receiving those rights. The form includes a section to describe the specific debt being assigned, including details like the amount due and the date of obligation. This document operates as a non-recourse assignment, indicating that the responsibility to collect the debt falls solely on the assignee. The assignor is required to warrant the validity of the debt and defend this warranty if necessary. This form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured method for managing debt assignments, ensuring legal clarity and enforceability. It aids in proper documentation practices while protecting the interests of the parties involved. Users are instructed to fill in the relevant sections, including the date of assignment and the details of the debt, ensuring accuracy and completeness for legal purposes.
