Assignment

The written transfer of an interest in a lease or mortgage. The lessee (assignor) transfers the remainder of the term and the assignee becomes liable to the original lessor for the rent.
Based on the terms of the original contract or assignment, the assignor may retain secondary liability for payments on the lease.

The transfer of the right, title and interest in the property of one person, the assignor, to another, the assignee. In real estate, there are assignments of mortgages, contracts, agreements of sale, leases, and options, among others.