The transfer of property, or of a right or interest in property, by one person to another to be used for the recipient's own benefit, for the benefit of creditors or to be held in trust. This is commonly used in the context of an assignor that assigns their right to receive funds from a third party to be given to another party (the assignee) to which the assignor owes money. It is used in debt collection and contractual obligations to ensure that the third party gets paid using a potential source of funds to be issued to the assignee.
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