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
Virgin Islands Assignment of Money Judgment is a legal process that allows a party to transfer its rights to collect a money judgment to another party. This assignment generally involves the assignment of the judgment creditor's rights, including the right to receive the debt owed, interest, and costs associated with the judgment. There are different types of Virgin Islands Assignment of Money Judgment, including: 1. Absolute Assignment: In this type of assignment, the judgment creditor transfers all of their rights, title, and interest in the money judgment to the assignee. The assignee becomes the new legal owner of the judgment and assumes the responsibility of collecting the debt owed. 2. Partial Assignment: In a partial assignment, the judgment creditor transfers only a portion of their rights, title, and interest in the money judgment to the assignee. The assignee has the right to collect the assigned portion of the debt owed, while the judgment creditor retains the right to collect the remaining portion. 3. Pro Tango Assignment: In a pro tango assignment, the judgment creditor assigns a specific amount or percentage of the money judgment to the assignee. The assignee has the right to collect the assigned portion, and the judgment creditor retains the right to collect the remaining portion. 4. Collateral Assignment: In a collateral assignment, the judgment creditor grants a security interest in the money judgment to the assignee to secure a debt or obligation owed to the assignee. If the debt or obligation is not satisfied, the assignee may enforce their rights to collect the money judgment. 5. Equitable Assignment: An equitable assignment occurs when a judgment creditor agrees to assign their rights to the assignee, but the assignment is not expressly performed or executed. This type of assignment is typically governed by equitable principles. In the Virgin Islands, the assignment of money judgments must comply with applicable state laws and court rules. It is essential to consult with an attorney or legal professional familiar with Virgin Islands law to ensure a proper and valid assignment of a money judgment.
