Assign
The act of transferring property rights to another person or entity, without necessarily transferring ownership of the property itself.
For Example:
A trust beneficiary may assign his or her right to receive income from the trust, without ceasing to be a trust beneficiary. With this type of arrangement, the income is delivered to the purchaser of the right to receive income (the assignee), but the property generating remains owned by the trust beneficiary.
The act of transferring property rights to another person or entity, without necessarily transferring ownership of the property itself.
For Example:
A trust beneficiary may assign his or her right to receive income from the trust, without ceasing to be a trust beneficiary. With this type of arrangement, the income is delivered to the purchaser of the right to receive income (the assignee), but the property generating remains owned by the trust beneficiary.