equitable assignment

Equitable assignment refers to the transfer of rights or benefits from one party to another without formally changing the legal title. In simpler terms, it's an agreement where one person (the assignor) gives another person (the assignee) the right to receive something, like money or services, even if that right hasn’t been formally transferred in legal documents. While the assignee gains the benefits, the assignor still holds the legal title. This concept is important in contracts and finance, helping ensure that rights can be managed flexibly, even when the formalities might not be in place.