South Carolina Assignment of Judgment is a legal document that allows an individual or business to transfer their rights to collect a judgment to another party. The process of assigning a judgment helps the original judgment creditor expedite the collection process and potentially receive immediate funds. In South Carolina, there are two primary types of Assignment of Judgment: 1. Absolute Assignment: An absolute assignment of judgment involves transferring all rights and interests in the judgment to another party, known as the assignee. Once the assignment is completed, the assignor (original judgment creditor) no longer has any claim to the judgment and forfeits any future benefits or proceeds resulting from the judgment. 2. Collateral Assignment: A collateral assignment of judgment is used when the assignor wants to use the judgment as collateral for a debt or obligation. In this case, the assignor retains their ownership rights to the judgment, but grants the assignee certain rights to enforce and collect the judgment in the event of default or non-payment of the debt. Keywords: South Carolina Assignment of Judgment, legal document, transfer rights, collect judgment, original judgment creditor, expedite collection process, immediate funds, absolute assignment, collateral assignment, rights and interests, assignee, claim to the judgment, future benefits, proceeds, collateral, debt, obligation, ownership rights, enforce, default, non-payment.
South Carolina Assignment of Judgment
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How to fill out South Carolina Assignment Of Judgment?
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