conditional assignment

An assignment of income (such as rent payments or accounts receivable) to a lender, made to secure a loan.

• The lender receives the assigned income only if the assignor defaults on the underlying loan. [Cases: Mortgages 199(2); Secured Transactions 181. C.J.S. Mortgages §§ 301–302; Secured Transactions §§ 25, 134–136.]

---

词条贡献者

法律翻译Jenny，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与重组与破产有关的法律文件。