Assignor means any individual or entity with the exclusive rights towards any property, be it physical property like immovable real estate, or intellectual property, and thereafter who transfers the rights to another company, entity, business, or individual. The assignor may also stipulate restrictions on assignees while property is being assigned.
Any assignment of property takes place when the assignor or property owner/holder chooses to sell the property rights to the assignee. Whenever property is being assigned, the assignor will create a legal contract, naming the assignee and the terms and conditions related to the usage of the property in question. If both parties are satisfied with the nomenclature in the contract, along with the rights and responsibilities laid out therein, it leads to funds being transferred and the transfer of property after the signing of the agreement/contract of assignment. The assignor should have the legal rights to any property for selling the same as well. If another entity does not feel that the assignor does not possess the same, then they may legally contest the property transaction. The assignor should have specific documents for proving ownership of property and its rights, including the title, agreement, and so on.
The assignment of property in the real estate sector happens before the construction of a home in most cases, with the assignor buying the property rights and then selling the same to assignees at prices above the initial price paid for acquiring the rights in question. It is another way of describing property transfer and sale, with the seller/owner being the assignor, and holding the exclusive property rights as well. Sometimes, the assignor of any land or plot (with or without buildings), may sell the same to a real estate developer. In this case, he/she will be selling the development rights on the plot as well.
