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TeachMeFinance.com assignment -- the transfer in writing of some or all ownership rights to real or personal property from one party to another. historic definition... Assignment -- The act of assigning or transferring or of allotting or awarding. Also, an assignment is the instrument in writing by which property, rights or interests are transferred. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.