What does Assignment mean in Law?

Assignment defines a legal transaction where an individual, the “assignor,” transfers rights, property, or other benefits to another person. This receiver is known as the “assignee”. When a right is assigned, the assignee enjoys all the rights that were enjoyed by the assignor. They are also required to perform all the obligations that were performed by the assignor

The concept of assignment is used in both contract and property law. It basically means a sale of legal rights.This means that a few important rules apply to assignments.

First, you cannot validly assign what you do not legally own. Even where a person is the equitable owner of a property, the right to assign the property still remains with the legal owner.