Assignment of Contract Rights in Florida
Assignment of contract rights in Florida transfers the assignor's entitlement to receive performance under an existing contract to a third party. The assignee steps into the assignor's shoes and can enforce the assigned rights directly against the obligor.
Requirements
A valid Florida assignment requires a present intent to transfer, identification of the specific rights assigned, and communication of the assignment. Written assignments are preferred for evidentiary purposes and are required for certain rights under the Statute of Frauds. The assignor must have the authority to assign and the right must be assignable under the contract and applicable law.
Notice and Priority
Notice to the obligor is not required for the assignment to be valid between the assignor and assignee, but it is essential to protect the assignee's rights. An obligor who pays the assignor without knowledge of the assignment is discharged. Multiple assignments of the same right create a priority dispute resolved under Florida's "first to give notice" rule for gratuitous assignments and "first in time" for assignments for value.
Related Terms
Barnes Walker Business Law
Barnes Walker handles contract assignments and rights transfers for Florida businesses. Contact us for contract guidance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC