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LSDefine

Simple English definitions for legal terms

subassignee

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A quick definition of subassignee:

A subassignee is someone who receives property rights or powers from another person, known as an assignee. This term is often used in legal contexts, but it can be confusing because it can have different meanings depending on the situation. Courts may need to look at the intent of the assignor and assignee to determine what rights and responsibilities the subassignee has. Essentially, a subassignee is someone who receives a right that was previously assigned to someone else.

A more thorough explanation:

Definition: A subassignee is a person who receives the transfer of property rights or powers from an assignee. The term is often used broadly and can be difficult to define precisely. Courts may look to the intent of the parties involved in the assignment to determine the subassignee's rights and responsibilities.

Examples:

  • Absolute assignee: This is a person who receives an unqualified interest in property as part of an assignment. For example, if a person assigns their ownership of a car to someone else, that person becomes the absolute assignee of the car.
  • Assignee ad interim: This is a person who is appointed as an assignee between the time of bankruptcy and the appointment of a regular assignee. For example, if a company goes bankrupt, an assignee ad interim may be appointed to manage the company's assets until a permanent assignee is appointed.
  • Assignee for value: This is a person who receives an assignment in exchange for payment or other consideration. For example, if a person sells their ownership of a house to someone else, the buyer becomes the assignee for value of the house.
  • Collateral assignee: This is a lender who receives an interest in property, usually real property, as security for a loan. For example, if a person takes out a mortgage on their house, the lender becomes the collateral assignee of the house.
  • Gratuitous assignee: This is a person who receives an assignment without giving any consideration in return. For example, if a person gives their ownership of a painting to a friend as a gift, the friend becomes the gratuitous assignee of the painting.
  • Subassignee: This is a person who receives the transfer of property rights or powers from an assignee. For example, if a person assigns their ownership of a car to someone else, and that person then assigns their ownership of the car to a third person, the third person becomes the subassignee of the car.

The examples illustrate the different types of assignees and subassignees that may be involved in an assignment of property rights or powers. Each type of assignee has different rights and responsibilities, depending on the circumstances of the assignment and the intent of the parties involved.

subaltern | sub ballivus

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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