A chose in action is essentially a right to sue. It is an intangible personal property right recognized and protected by the law, that has no existence apart from the recognition given by the law, and that confers no present possession of a tangible ob
Oregon Assignment of Money Judgment is a legal process that involves the transfer of a monetary judgment from one party to another. This assignment allows the original judgment creditor to transfer their rights to collect the debt to a third party, known as the assignee. In Oregon, this process is governed by the Revised Oregon Statutes Section 18.442. The Assignment of Money Judgment in Oregon is often used when the original judgment creditor doesn't want to wait for the debtor to pay the debt and prefers to receive immediate payment from the assignee. By transferring the judgment, the creditor receives a lump sum payment upfront, while the assignee takes on the responsibility of collecting the debt from the debtor. There are different types of Assignment of Money Judgment in Oregon, each with its own distinctions and implications. Some commonly known types include: 1. Absolute Assignment: This type of assignment involves a complete transfer of the judgment, including all rights and responsibilities, to the assignee. The assignee becomes the new owner of the judgment and assumes the risk of collecting the debt. 2. Conditional Assignment: In a conditional assignment, the assignor transfers the judgment to the assignee under specific conditions. These conditions may include a certain payment percentage or a specific time limit for the assignee to collect the debt. 3. Assignment for Collection: This type of assignment allows the assignee to collect the debt on behalf of the original judgment creditor. The assignee works as an agent, receiving a portion of the amounts collected as compensation. 4. Partial Assignment: Sometimes, the judgment creditor may choose to assign only a portion of the money judgment to the assignee. This allows the creditor to receive immediate payment for part of the debt while retaining rights to collect the remaining amount. It is important to note that the Assignment of Money Judgment in Oregon must be in writing and properly executed to be enforceable. The document should include details such as the names and addresses of the assignor and assignee, the original judgment's case number, the assigned judgment amount, and any specific terms or conditions agreed upon. In summary, the Assignment of Money Judgment in Oregon is a legal process that enables the transfer of a monetary judgment from the original creditor to a third-party assignee. Different types of assignments exist, including absolute, conditional, assignment for collection, and partial assignments, each with its own implications and requirements. It is crucial to comply with the Oregon Revised Statutes and ensure that the assignment document is properly executed for it to be effective.
