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The deed of assignment can generally be defined as a document which is drafted to guarantee or promise that the transfer of ownership of a property will commence on a particularly defined date.
The cost, by law, for an uncertified document is $1.00 per page and for a certified copy the fee is $5.00 for the first page and $1.00 for each page thereafter no matter what format the document may be transmitted to you in.
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Under Bankruptcy Act of 1898, such assignment was an “act of bankruptcy” if made within four (4) months of bankruptcy.
Black’s Law Dictionary Definition for Voluntary assignment – An assignment made for the benefit of his creditors made by a debtor voluntarily, as distinguished from a compulsory assignment which takes place by operation of law in proceedings in bankruptcy.
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When the same assets of a debtor are given to a trustee to sell them and pay off debt. Giving a part of the sales in a letter of credit to the manufacturer as a promise to pay for goods.
In my own areas of work, a deed of assignment is usually used to transfer intellectual property rights (eg copyright, trade marks, patents) from one person to another.
So, yes: a deed of assignment could be important in proving ownership of property ("chain of title") in legal proceedings.
A deed of assignment is a legal document that is used in the transfer of real estate and land property.
The deed of assignment is a very important document that should be kept at safely stored at all times, particularly in the case of real estate.