Assignment of Estate in Favor of Creditor
How To Use
This review list is provided to inform you about this document in question and assist you in its preparation. This form is typically used to acquire a loan or payment from another party.
- Make multiple copies. Keep one with the transaction file. Give one to each signatory.
Assignment of Estate in favor of Creditor
I, ___________________________, referred to as DEBTOR, herewith unconditionally assigns all of my right, title and interest in an expectancy of to the estate of _________________________ to ____________________________, referred to as CREDITOR, under the terms and conditions stated herein.
This assignment is to secure payment of ___________, dated __________________, in the original principal amount of $________ (_____________________________________________________ & _____/100 dollars) with a present total principal and interest balance of this date of $________ (_____________________________________________________ & _____/100 dollars).
CREDITOR shall have the right to pursue any legal actions, file any notices or claims as may be necessary to secure CREDITOR’s full receipt of my expectancy.
I further agree to execute such other and further documents as may be requested by CREDITOR to perfect and secure this assignment. In the event of a dispute or litigation, I give the CREDITOR the sole and total authority to compromise or settle the dispute.
In the event that the amount received from the estate is insufficient to repay such debt, I will remain personally liable for the balance of the sums due to CREDITOR. In the event that there is any excess, CREDITOR shall be required to return the excess to the DEBTOR.