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What is a notice of assignment?

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Quick Answer

A Notice of Assignment is the transfer of one's property or rights to another individual or business. Depending on the type of assignment involved, the notice does not necessarily have to be in writing, but a contract outlining the terms of the assignment does need to be provided.

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Full Answer

Most states only require a specific type of assignment to be filed. Assignments of profits, rents and mortgages are examples of the transactions that may require recording in the local record clerk's office. Also, those obtaining an assignment of a judgment usually file in order to attach the judgement to any real estate owned by the judgment debtor.

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