Legal Definitions - absolute assignment

Definition: Absolute assignment is the transfer of rights or property from one person to another, leaving the assignor with no interest in the assigned property or right.

Example: If a person assigns their car to someone else, and the assignment is absolute, then the assignor no longer has any rights or interest in the car. The car now belongs entirely to the assignee.

This type of assignment is different from a conditional assignment, where the assignor retains some interest in the assigned property or right until certain conditions are met.

Absolute assignment is often used in legal and financial contexts, such as when transferring ownership of stocks, real estate, or other assets.