Assignee

In finance, the term assignee refers to an entity which is given the right to collect a debt and interest owed to another entity.

The entity which transfers the right to collect the debt to the assignee is the assignor.

Example: An insurance company holds mortgages on 100 pieces of real estate and collects interest and mortgage repayments on those mortgages. When a spike in insurance claims forces the insurance company to raise liquid capital, it decides to divest its real estate holdings. It sells the mortgages to a real estate investment fund for the equivalent of the mortgage principal, and in doing so it grants the fund the right to collect mortgage repayments and interest on the mortgages. In this scenario, the insurance company is the assignor and the investment fund is the assignee.

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Editor Daniel Dreier
Daniel Dreier is editor and personal finance expert at moneyland.ch.

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