Assignment Of Estate For Creditors Benefit

This document is a format for assignment of estate by the Debtor to the creditor on unable to satisfactorily pay the loan or amount advanced by the credit agency or institution. The creditor shall first declare the amount of loan for which the assignment of estate is being done and shall list the movable & immovable property separately to avoid confusion while executing the assignment of estate. The debtor shall mention the list of creditor and amount of dues to be paid in relation to the estate property. Such action is taken by the Debtor when there is no possible way to pay off the outstanding debt and the debtor wants to avoid any liquidation process to be initiated by the court on application of the creditor.

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