Assignee

Definition

• As it relates to the insurance industry, an assignee is individual who is given ownership of another individual's insurance policy. For instance, if a father were to transfer the rights to his life insurance policy to his son, the father would be an assignor, and the son would be the assignee.
• In real estate, it is the entity or person who is appointed to receive a property from another person or company.

Synonyms
acceptor, buyer, taker, receiver

Related Terms and Acronyms

• Assignor — Definition,
• Conveyance — Definition,
  • A document that transfers a property title.
  • To move something.
• Estate Planning — Definition,
  • The process of determining how assets will be dispersed after an individual's death, ideally in the most tax-efficient way possible.
• Exchange — Definition,
  • A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
• Life Insurance — Definition, Very Important,
  • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
  ➥ CanEquity offers life insurance.
• Loss Payee — Definition,
  • An entity that is legally entitled to the benefits of an insurance claim.
• Mortgagee — Definition, Important,
  • The lender in a mortgage transaction.
• Payee — Definition,
  • The name of the person to whom the money in a cheque is to go.
• Payor — Definition,
  • One who makes a payment to another party.
• Transfer of Title (TOT) — Acronym,
  • A document signed by the seller and purchaser transferring ownership, at which time the document is registered against the property.
• Transferable Insurance Policy — Definition,
  • A life insurance policy that can be sold to another party through a viatical settlement.