New York Assignment Separate From Bond is a legal term used in the state of New York which describes a situation in which two or more persons are held jointly liable on a debt, but one of the persons is allowed to pay the debt separately from the other. This is usually done when a co-signer is involved in a loan agreement. This type of agreement is used in cases such as mortgage loans, car loans, student loans, and other types of loans where two people are jointly liable for repayment of the debt. There are two types of New York Assignment Separate From Bond agreements. The first type is called a “Direct Assignment” in which the co-signer is allowed to pay the debt separately from the other person. The second type is called an “Indirect Assignment” in which the co-signer can pay the debt, but the other person is still liable for repayment.
New York Assignment Separate From Bond is a legal term used in the state of New York which describes a situation in which two or more persons are held jointly liable on a debt, but one of the persons is allowed to pay the debt separately from the other. This is usually done when a co-signer is involved in a loan agreement. This type of agreement is used in cases such as mortgage loans, car loans, student loans, and other types of loans where two people are jointly liable for repayment of the debt. There are two types of New York Assignment Separate From Bond agreements. The first type is called a “Direct Assignment” in which the co-signer is allowed to pay the debt separately from the other person. The second type is called an “Indirect Assignment” in which the co-signer can pay the debt, but the other person is still liable for repayment.
