Assignor
Definition
- As it relates to the insurance industry, an assignor is the owner of an insurance policy who agrees to transfer the rights of the policy to another individual. 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 appointed to transfer a property to another person or company.
Synonyms
giver, seller, appointor, provider
Related Terms and Acronyms
- Assignee — Definition,
- In the insurance industry, an assignee is someone who is assigned ownership of another person's insurance policy.
- A person appointed to acquire (take) an item, such as a property.
- 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.
- Mortgagor — Definition,
- The borrower in a mortgage transaction.
- 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.
