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
Broward Florida Assignment of Money Judgment is a legal process where an individual or business transfers their right to collect a debt to another party. This assignment is a legal document that ensures the debt holder, often referred to as the assignee, has the authority to pursue and collect the money owed on behalf of the original creditor, known as the assignor. This type of judgment assignment is commonly used in Broward County, Florida, to facilitate the efficient transfer of debt and avoid the burden of collection for the original creditor. The Broward County Court allows various types of Assignment of Money Judgment, each serving a specific purpose. Some key types of Broward Florida Assignment of Money Judgment include: 1. Traditional Assignment of Money Judgment: This is the most common type of assignment where the assignor transfers their rights to the assignee, who can then pursue the debt collection process on their behalf. The assignee becomes the legal owner of the judgment and has the right to enforce, settle, or negotiate the debt. 2. Partial Assignment of Money Judgment: In some cases, the assignor may choose to assign only a portion of the judgment owed, rather than the entire amount. This can occur when the assignor wants to share the risk or workload of collection with another party. 3. Non-Recourse Assignment of Money Judgment: This type of assignment places the burden of collection solely on the assignee. The assignor has no further responsibility or liability for the debt, regardless of whether the full amount is collected or not. 4. Assignment of Money Judgment in Trust: In certain situations, the assignor may assign the judgment to a trust for specific purposes. The trust acts as the assignee and handles the debt collection. This type of assignment is often used for estate planning or to protect assets. Overall, Broward Florida Assignment of Money Judgment provides a legal framework for transferring debt collection rights to another party. This process allows assignors to offload the responsibility of collecting a debt, while assignees gain the authority to pursue and collect the money owed. It is crucial for assignors and assignees to consult with legal professionals experienced in Broward County's laws to ensure a smooth and legally sound assignment process.
