Claim assignment, assignment and deed of assignment

Sometimes as a creditor you want to assign a claim, or as a third party you want to buy a claim. These can include monetary claims, but also to claims in which the other party must do something for you or deliver something to you. For example, it often happens that a monetary claim is transferred from one bank to another. But it also occurs in the sale of real estate: the claim against the contractor to guarantee the quality is transferred into the purchase agreement transferred to the buyer so that the buyer can invoke the warranty if necessary. The transfer of this type of claim right is regulated by law and is called ‘assignment. The transfer itself is called ’assignment. The consequence of assignment is that the debtor must fulfill his obligations to the assignee of the claim. But a number of requirements must be met.

How to assign a claim? Deed of assignment!

To assign a right of claim, it is necessary that it be delivered by a deed of assignment. This deed can take two forms. The first is the authentic deed. This is a deed prepared by a notary public. The second form is the private deed. That is an agreement drawn up by the creditor and the third party (the assignee). The claim must be sufficiently defined in the deed. This means that a description of the claim must be given to indicate what it is about. Finally, it is required that the person assigning the claim has power of disposition. Next, there are two types of assignment: the public assignment and the silent assignment. 

Public assignment: notice to debtor

After the deed of assignment is drawn up and signed, the debtor is notified of the assignment of the claim. Thus, the debtor knows that he must henceforth pay or satisfy the new creditor (assignee). Until the notice has taken place, the assignment is not completed. In the case of public assignment, a private deed is generally chosen. 

Silent assignment: assignment without notice

A special way to assign a debt in one's name is the silent assignment. With this type of assignment, no notice to the debtor is required. However, silent assignment is subject to stricter requirements. The deed in this case must be an authentic or registered deed. A registered deed is a private deed that is registered with the Tax Office. In addition, the claim must already exist at the time of the transfer or be obtained directly from a then existing legal relationship. Furthermore, because no notice of the assignment was given to the debtor, a payment to the original creditor (assignor) is considered a payment in discharge. 

Assigning claim? Deed of assignment by a lawyer

Want to assign a claim? Then contact the contract law attorney at Lexys Lawyers to draft a deed of assignment.