Legal Security Assignment

A 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.

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

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