Assignments for the Benefit of Creditors FAQs

Assignee
The third-party to whom legal and equitable title of the debtor's property is transferred.

Assignment for the benefit of creditors
The transfer, by agreement, of the legal and equitable title to a debtor's property to a third-party.

General assignment for the benefit of creditors
Another term for an assignment for the benefit of creditors.  Also known as ABCs.