An assignor is a person who transfers property rights or powers to another. An assignee is a person or entity to which property rights or powers are transferred. An assignee is the one to whom assignments are made. An assignor can limit the operation of his/her assignment and impose any condition that the assignor thinks appropriate.
In Louisville Trust Co. v. Kentucky Nat’l Bank, 87 F. 143, 145 (C.C.D. Ky. 1898), the court stated that a general assignee is given the right and it is his duty to institute proceedings to set aside a preferential or a fraudulent transfer, conveyance, or gift of the assignor’s property, or a fraudulent purchase of property in the name of another person.
An assignee can be either an assignee in fact or an assignee in law. An assignee in fact is one to whom an assignment has been made in fact by anyone having the right, whereas an assignee in law is one with whom the right is vested by law, such as an executor or administrator.