Assignment – within the area of Law of Contracts, this term is used to detail the process of transferring of a legal right or valuable asset to somebody. This is a deal that for example could have the form of a sale, a gift or exchange of assets. There are usually two parties involved. One who transfers title is called “assignor”. Another who acquires the ownership is known as “assignee”.
This legal term could also have another meaning – of the document related to the performance of such transfer. For example, when related to acquiring real estate title, the applicable document is a Title Deed.