The four methods of transfer:

     This page is continued from Legal Instruments >>>> Negotiable Instruments >>>> Related Terms >>>> Negotiable >>>> Transfer:

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1.) assignment – the transfer of property or right in property, or the instrument of such transfer.

  • assignee – a person to whom a property right is assigned, that is, the one to whom an assignment is made.
  • assignor – a person who transfers property rights or powers to another by assignment, whether he be an original owner or an assigner.

2.) delivery – the (actual, constructive, or symbolic) voluntary transfer of possession.

3.) indorsement – the signing of one’s name on the back of a negotiable instrument, by which a person transfers title to the paper to another person, usually to guarantee payment.

4.) operation of law – the means by which a right or a liability is created for a party through law, not by contract, act, or intent of a person.

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