absolute assignment

noun | as·sign·ment

1. : the act of assigning

2. a : a position, post, or office to which one is assigned

   b : a task assigned

3. : a present transfer of property or rights

   — absolute assignment
   : an assignment in which the transfer is complete and leaves the assignor with no interest in the property or right transferred

   — assignment for the benefit of creditors
   : assignment of property by a debtor to an assignee to be held in trust and used to pay off the debtor's debts

   — assignment of income
   : an assignment by one taxpayer to another of income for the purpose of avoiding taxes

   — assignment of lease
   : an assignment by a tenant of all of his or her remaining rights in a property under a lease — compare sublease

   — effective assignment
   : an assignment by which the assignor's interest in the property or right being assigned is terminated and transferred to the assignee

   — equitable assignment
   : an assignment (as of property in which one has a future interest) that is not valid at law but that would be upheld in a court of equity

   — general assignment
   : an assignment for the benefit of creditors of all of a debtor's property to be distributed fairly to the creditors — compare preference

   — wage assignment
   : an assignment by an employee by which an amount of his or her wages are transferred to another party (as a creditor) before the wages are paid to the employee — compare garnishment