Assigns, Assignees

Those to whom property or interests therein shall have been transferred. An assignee is the person or entity that receives and takes over another party’s rights under a contract through an assignment. For example, if a buyer under a purchase agreement assigns the contract to someone else, the new buyer who steps into the contract is the assignee and becomes responsible for performing the contract’s terms, such as completing the purchase and meeting any deadlines. Whether an assignee can take over depends on the contract language and applicable law, and in many cases the original party may still have some liability unless the other party agrees to release them.