Assignor

What Does Assignor Mean?

An assignor is a person or organization that transfers rights, such as ownership, to another party.

Insuranceopedia Explains Assignor

The transfer of rights may also involve the transfer of obligations. If someone enters into a contract to perform a duty for a specified period in exchange for payment, they are required to fulfill that duty during the agreed time. However, the assignment may allow the assignee to delegate the duty to another party if they are unable to carry it out. Some assignment contracts, however, prohibit such delegation.