Dictionary

Assignor

Definition: Person who gives legal rights or interests to another person. Pronunciation: \ˌa-sə-ˈnȯr Used in a Sentence:  The assignor transferred the mortgage and promissory note to the purchaser.

Assignment

Definition: The written instrument that serves to transfer the rights or interests of one person to another. Pronunciation: \ə-ˈsīn-mənt Used in a Sentence:   Constructive notice is given when an assignment of a...

Assignee

Definition: A person to whom a right or property is legally transferred. Pronunciation: ˌa-sə-ˈnē, ˌa-ˌsī-, ə-ˌsī- Used in a Sentence:  The daughter was the assignee for her parent’s property.

Asset

Definition: Anything of value. Pronunciation: ˈa-ˌset Used in a Sentence:   The updated finishings are an asset to the property.

Assessment

Definition: An amount that a person is officially required to pay, especially as a tax or individual share of a common expense in a condo or co-op building Pronunciation: ə-ˈses-mənt Used in...

Assessed Value

Definition: The value determined by a county tax appraiser for each unit of real property for tax purposes. Pronunciation: ə-ˈses-ed Used in a Sentence:   The taxes on the property were increased because...