This Assignment of Debt is between a party to whom a debt is owed (also known as the "assignor") and another party who agrees to assume the debt (also known as the "assignee"). This agreement sets out the names of all parties, including the debtor, and the total amount of the debt. It also sets out the amount of money the assignee will pay to assignor (usually an amount less than the debt) for the assumption. It is imperative that this type of business assignment be clearly set out in writing. A written Assignment of Debt - Absolute will prove valuable in the event there are disagreements or misunderstandings as to whom the debt should be paid.

This Assignment of Debt - Absolute contains the following:

• Parties: Sets out the names of both assignor and assignee;
• Debt Information: Name of the debtor and the amount which is owed to assignor;
• Assignment: Sets out that the debt, along with its advantages and benefits, is assigned to the assignee and the amount assignee will pay for the debt assignment;
• Signatures: Both parties must sign this assignment in the presence of witnesses.

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This attorney-prepared packet contains:

1. General Instructions
2. Assignment of Debt - Absolute

State Law Compliance: This form complies with the laws of all states