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Deed of Assignment of Debt

Document Type
DOCX
Pages
4
Price: KES 400
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Document Overview

A Deed of Assignment of Debt is a formal legal document through which one party, called the Assignor (the original creditor) transfers or assigns its legal rights and interest in a debt to another party, called the Assignee (the new creditor).

Once executed, the Assignee becomes legally entitled to:
- Receive payment of the debt directly from the debtor, and
- Exercise all rights and remedies the Assignor previously had against the debtor.

It is executed as a deed (not a simple contract), meaning:
- It is signed and witnessed,
- It takes effect immediately upon delivery,
- It is enforceable even without consideration (payment).

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