Legal Assignment

An Assignment or Security Assignment which complies with s.136 Law of Property Act 1925 namely that it is:

  • Absolute (ie unconditional)
  • Of the whole of the debt (and not part of it)
  • In writing
  • Signed by the Assignor, and
  • Notified to the debtor of the Assignor.

An Assignment which fails to meet any of these criteria will be an Equitable Assignment. The distinction between a Legal Assignment and an Equitable Assignment is of limited practical importance.
 

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