universal assignment
[/ˌjuːnɪˈvɜːrsəl əˈsaɪnmənt/]
nounpl: universal assignments
cessão universal de bens
1. A legal transfer of all assets and liabilities of a person or entity to another party, typically used in inheritance law, bankruptcy proceedings, or corporate restructuring
The creditor initiated a universal assignment of the debtor's estate to settle outstanding obligations.
O credor iniciou uma cessão universal de bens do devedor para liquidar as obrigações pendentes.
2. In civil law jurisdictions, the transfer of an entire patrimony (all rights and obligations) from one person to another
Universal assignment differs from specific assignment in that it includes all assets rather than individual items.
A cessão universal de bens difere da cessão específica porque inclui todos os ativos em vez de itens individuais.
3. A mechanism in succession law where a deceased person's entire estate passes to heirs or beneficiaries
Under the provisions of universal assignment, the heir received the complete estate including real property.
Sob as disposições da cessão universal, o herdeiro recebeu a propriedade completa, incluindo bens imóveis.
This term is primarily used in legal and civil law contexts in Brazil and Portugal. It is particularly important in succession law and bankruptcy proceedings. In the United States, the concept is less commonly expressed as 'universal assignment' but rather as 'assignment of all assets' or within the framework of bankruptcy law. The term reflects the civil law tradition's approach to treating inherited or transferred property as a complete patrimony rather than individual items.
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