Legal Definitions - transferable

Definition: Transferable (trans-fər-ə-bəl) is an adjective that describes something that can be transferred from one person to another, along with all the rights that the original holder had.

Examples:

• A transferable ticket to a concert can be sold or given to someone else to use.
• A transferable job contract allows an employee to transfer to a different department or location.
• A transferable warranty on a product can be transferred to a new owner if the product is sold.

These examples illustrate how something that is transferable can be passed on to someone else, along with all the rights and benefits that come with it. For example, a transferable ticket to a concert can be sold to someone else who can then attend the concert in the original holder's place. Similarly, a transferable job contract allows an employee to move to a different department or location without losing their job or benefits. And a transferable warranty on a product means that if the product is sold, the new owner can still benefit from the warranty.