Conveyancing Act 1919 (NSW)
Conveyancing Act 1919 (NSW)
12 Assignments of Debts and Choses in Action
An absolute assignment of any debt or legal chose in action must be:
Executed in writing and signed by the assignor.
Accompanied by express written notice given to the debtor, trustee, or relevant party from whom the assignor is entitled to claim.
The assignment will be deemed effectual in law, allowing for:
Transfer of the legal right from the date of notice.
Legal and other remedies associated with the debt or chose in action.
Power to give a valid discharge without needing the assignor's agreement.
However, if the debtor or relevant party has notice that the assignment is disputed or subject to conflicting claims:
They may call on involved parties to interplead regarding the claims.
Alternatively, they may pay the amount into court according to relevant Acts for trustee relief.
23C Instruments Required to be in Writing
(1) General Rules: No interest in land can be:
Created or disposed of unless in writing signed by the creator or their legally authorized agent.
Manifested and proven for a declaration of trust involving land through writing signed by a capable party or by will.
(c) To dispose of an equitable interest or trust, it must be executed in writing signed by the disposer or their authorized agent.
(2) Note that this provision does not affect the establishment of resulting, implied, or constructive trusts.
(3) Electronic Compliance: Writing may also be satisfied in electronic form, with electronic signatures recognized as valid.