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What is the Difference Between Homework and Assignment

The main difference between homework and assignment is that homework is a task or a work assigned to a student generally by a teacher to be completed outside the classroom setting, most probably at home, while an assignment is a task assigned to a student to be completed within the course of a particular study.

Assignments and homework vary from one another due to a wide range of distinctive elements such as the objective or the purpose of the task, main functions, and the benefits received.

Key Areas Covered

1.  What is Homework     – Definition, Features 2.  What is Assignment      – Definition, Features 3.  Similarities Between Homework and Assignment      – Outline of Common Characteristics 4.  Difference Between Homework and Assignment     – Comparison of Key Differences

What is Homework

Homework refers to the tasks assigned to the students by the schoolteachers.  They expect students to carry out the task during non-school hours. Teachers often give homework to complete at home in order to make their students practice the learning material already taught. Their aim is to reinforce learning and facilitate the mastery of specific competencies and skills .

Sometimes, a student might get preparation assignments as homework. The purpose of such homework is to introduce the student to the study material that the teacher will present in future lessons. Furthermore, it would help students to obtain the maximum benefit once the new material is being taught in class.

On the other hand, homework sometimes facilitates the transfer of previously acquired skills to new situations. For example, the students might learn in class about factors that led to World war I. Then, as homework, the teacher would ask the students to find out the factors that led to World war II. Here, the teacher gives an integration homework, which requires the student to apply separately learned skills to create a single product, such as science projects, newspaper reports, or creative writing.

In addition, homework can be used to build up proper communication between parents and children, as a constructive method of punishment and also to make the parents aware of what is happening in school.

What is Assignment

If you are a student, you might think that it is not your responsibility to learn by yourself; rather, it is the job of the teacher to teach you. But, a teacher cannot teach every little thing in a particular unit or subject to the students.

Such a spoon-feeding method of imparting knowledge can negatively influence the learning capabilities and the academic career of a student. Especially in academic establishments such as colleges or universities, teachers expect the students do some research to grasp the untaught concepts and to explore the subject on their own instead of teaching everything to the students using a lecture method.

The actual purpose of giving assignments is to enhance the learning skills of the students.  This enables the students to occupy their brains more and more. Academic assignments improve the creativity of the students as they naturally acquire and learn a lot when they read or practice a subject or art on their own.  Therefore, the main reason for giving assignments is to provide the student with a platform to practice and explore knowledge about a subject on their own.

Similarities Between Homework and Assignment

• Both aim at enhancing the learning skills of the students.
• Teachers or professors assign them to the students.
• It is possible to grade both homework and assignments.

Difference Between Homework and Assignment

Homework is a work or a task assigned to a student by a teacher to be completed during a non-school hour, whereas an assignment is a task assigned to a student in the course of study. In contrast to homework, an assignment usually provides the student with a clue about the objectives of the assigned task.

The main purpose of an assignment is to help a student understand the studying process well. In contrast,  homework basically helps the student to improve his/her skills.

Main Function

An assignment can be used to figure out what should be taught, while homework is basically used to identify the challenges encountered by students on a particular topic. 

Some advantages of assignments include supporting students to revise a particular topic and boosting the students’ confidence, whereas homework becomes helpful in understanding a specific topic and when preparing for an exam.

In brief, the main difference between homework and assignment is that homework is assigned to be completed outside the classroom while assignments are assigned to be completed within the course of a particular study. Nonetheless, no matter how beneficial they can be, for most students, homework and assignments are a massive source of unhappiness and irritation.

1. Levy, Sandra. “ Why Homework Is Bad: Stress and Consequences .” Healthline , Healthline Media.

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About the Author: Anuradha

Anuradha has a BA degree in English, French, and Translation studies. She is currently reading for a Master's degree in Teaching English Literature in a Second Language Context. Her areas of interests include Arts and Literature, Language and Education, Nature and Animals, Cultures and Civilizations, Food, and Fashion.

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Assignment vs. Homework

What's the difference.

Assignment and homework are both tasks given to students by teachers to reinforce learning and assess understanding. However, there are some key differences between the two. Assignments are typically larger projects or tasks that require more time and effort to complete, while homework is usually smaller, daily tasks that can be completed in a shorter amount of time. Assignments often involve more critical thinking and creativity, while homework is more focused on practicing and applying concepts learned in class. Overall, both assignments and homework play an important role in the learning process and help students develop their skills and knowledge.

Further Detail

Assignments and homework are both tasks given to students by teachers to reinforce learning. Assignments are typically more formal and structured tasks that are given to students to complete outside of class. Homework, on the other hand, is a broader term that encompasses any work that students are expected to complete outside of class time.

Assignments are usually given less frequently than homework. They are often larger tasks that require more time and effort to complete. Homework, on the other hand, is typically given on a daily or weekly basis and is meant to be completed in a shorter amount of time.

Assignments tend to cover a broader scope of material than homework. They may require students to demonstrate a deeper understanding of a topic or to apply concepts in a more complex way. Homework, on the other hand, is usually more focused and may involve practicing specific skills or reviewing material covered in class.

Assignments can come in a variety of formats, including essays, research papers, projects, presentations, and more. They often require students to engage in higher-order thinking skills and to demonstrate their understanding in a creative or analytical way. Homework, on the other hand, is typically more straightforward and may involve completing worksheets, answering questions, or reading assigned material.

Assignments are usually graded more rigorously than homework. They may account for a larger portion of a student's overall grade and may be assessed based on specific criteria or rubrics. Homework, on the other hand, is often graded on completion or effort and may not carry as much weight in terms of a student's final grade.

Time Management

Assignments often require more advanced time management skills than homework. Students may need to plan ahead and break down larger tasks into smaller, manageable steps in order to complete assignments on time. Homework, on the other hand, is usually more straightforward and can be completed in a shorter amount of time, making it easier for students to fit into their daily schedules.

The purpose of assignments is to deepen students' understanding of a topic, to encourage critical thinking and problem-solving skills, and to provide opportunities for creativity and self-expression. Homework, on the other hand, is meant to reinforce learning, to practice skills, and to provide feedback to both students and teachers on the progress of learning.

Collaboration

Assignments may involve more opportunities for collaboration than homework. Students may be asked to work in groups or pairs to complete assignments, which can help them develop teamwork and communication skills. Homework, on the other hand, is usually completed independently, although students may seek help from peers or parents if needed.

Assignments often provide more detailed feedback to students than homework. Teachers may offer comments, suggestions, and grades on assignments to help students understand their strengths and areas for improvement. Homework, on the other hand, may be graded quickly and may not always include detailed feedback, although teachers may use homework completion as a way to monitor student progress.

In conclusion, assignments and homework both play important roles in the education system. While assignments tend to be more formal, structured, and in-depth tasks that require advanced skills and knowledge, homework is typically more frequent, focused, and practice-oriented. Both assignments and homework provide valuable opportunities for students to learn, practice, and demonstrate their understanding of course material.

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University of Washington Human Resources

Hr operations, administrative leave.

Administrative leave — also known as home assignment — temporarily relieves an employee of their normal job responsibilities. The employee is asked to remain at home during regular work hours but continues to receive regular pay and benefits.

This type of leave is rarely used and only in situations when an employee should not remain in the workplace. Common reasons for administrative leave include:

• To secure particularly sensitive information or resources if warranted by the circumstances
• To investigate allegations of misconduct, which, if true, could place people or University resources in jeopardy
• To remove an employee from the workplace who is behaving disruptively (pending an assessment of the situation)

Requesting administrative leave

Supervisors who believe there may be a need for administrative leave should speak with their HR consultant. The HR consultant can help evaluate the situation, determine the best course of action, and obtain the necessary approval, as needed.

The vice president of Human Resources, or the vice president’s designee, must approve the leave prior to sending the employee home.

Understanding Assignments

What this handout is about.

The first step in any successful college writing venture is reading the assignment. While this sounds like a simple task, it can be a tough one. This handout will help you unravel your assignment and begin to craft an effective response. Much of the following advice will involve translating typical assignment terms and practices into meaningful clues to the type of writing your instructor expects. See our short video for more tips.

Basic beginnings

Regardless of the assignment, department, or instructor, adopting these two habits will serve you well :

• Read the assignment carefully as soon as you receive it. Do not put this task off—reading the assignment at the beginning will save you time, stress, and problems later. An assignment can look pretty straightforward at first, particularly if the instructor has provided lots of information. That does not mean it will not take time and effort to complete; you may even have to learn a new skill to complete the assignment.
• Ask the instructor about anything you do not understand. Do not hesitate to approach your instructor. Instructors would prefer to set you straight before you hand the paper in. That’s also when you will find their feedback most useful.

Assignment formats

Many assignments follow a basic format. Assignments often begin with an overview of the topic, include a central verb or verbs that describe the task, and offer some additional suggestions, questions, or prompts to get you started.

An Overview of Some Kind

The instructor might set the stage with some general discussion of the subject of the assignment, introduce the topic, or remind you of something pertinent that you have discussed in class. For example:

“Throughout history, gerbils have played a key role in politics,” or “In the last few weeks of class, we have focused on the evening wear of the housefly …”

The Task of the Assignment

Pay attention; this part tells you what to do when you write the paper. Look for the key verb or verbs in the sentence. Words like analyze, summarize, or compare direct you to think about your topic in a certain way. Also pay attention to words such as how, what, when, where, and why; these words guide your attention toward specific information. (See the section in this handout titled “Key Terms” for more information.)

“Analyze the effect that gerbils had on the Russian Revolution”, or “Suggest an interpretation of housefly undergarments that differs from Darwin’s.”

Additional Material to Think about

Here you will find some questions to use as springboards as you begin to think about the topic. Instructors usually include these questions as suggestions rather than requirements. Do not feel compelled to answer every question unless the instructor asks you to do so. Pay attention to the order of the questions. Sometimes they suggest the thinking process your instructor imagines you will need to follow to begin thinking about the topic.

“You may wish to consider the differing views held by Communist gerbils vs. Monarchist gerbils, or Can there be such a thing as ‘the housefly garment industry’ or is it just a home-based craft?”

These are the instructor’s comments about writing expectations:

“Be concise”, “Write effectively”, or “Argue furiously.”

Technical Details

These instructions usually indicate format rules or guidelines.

“Your paper must be typed in Palatino font on gray paper and must not exceed 600 pages. It is due on the anniversary of Mao Tse-tung’s death.”

The assignment’s parts may not appear in exactly this order, and each part may be very long or really short. Nonetheless, being aware of this standard pattern can help you understand what your instructor wants you to do.

Interpreting the assignment

Ask yourself a few basic questions as you read and jot down the answers on the assignment sheet:

Why did your instructor ask you to do this particular task?

Who is your audience.

• What kind of evidence do you need to support your ideas?

What kind of writing style is acceptable?

• What are the absolute rules of the paper?

Try to look at the question from the point of view of the instructor. Recognize that your instructor has a reason for giving you this assignment and for giving it to you at a particular point in the semester. In every assignment, the instructor has a challenge for you. This challenge could be anything from demonstrating an ability to think clearly to demonstrating an ability to use the library. See the assignment not as a vague suggestion of what to do but as an opportunity to show that you can handle the course material as directed. Paper assignments give you more than a topic to discuss—they ask you to do something with the topic. Keep reminding yourself of that. Be careful to avoid the other extreme as well: do not read more into the assignment than what is there.

Of course, your instructor has given you an assignment so that they will be able to assess your understanding of the course material and give you an appropriate grade. But there is more to it than that. Your instructor has tried to design a learning experience of some kind. Your instructor wants you to think about something in a particular way for a particular reason. If you read the course description at the beginning of your syllabus, review the assigned readings, and consider the assignment itself, you may begin to see the plan, purpose, or approach to the subject matter that your instructor has created for you. If you still aren’t sure of the assignment’s goals, try asking the instructor. For help with this, see our handout on getting feedback .

Given your instructor’s efforts, it helps to answer the question: What is my purpose in completing this assignment? Is it to gather research from a variety of outside sources and present a coherent picture? Is it to take material I have been learning in class and apply it to a new situation? Is it to prove a point one way or another? Key words from the assignment can help you figure this out. Look for key terms in the form of active verbs that tell you what to do.

Key Terms: Finding Those Active Verbs

Here are some common key words and definitions to help you think about assignment terms:

Information words Ask you to demonstrate what you know about the subject, such as who, what, when, where, how, and why.

• define —give the subject’s meaning (according to someone or something). Sometimes you have to give more than one view on the subject’s meaning
• describe —provide details about the subject by answering question words (such as who, what, when, where, how, and why); you might also give details related to the five senses (what you see, hear, feel, taste, and smell)
• explain —give reasons why or examples of how something happened
• illustrate —give descriptive examples of the subject and show how each is connected with the subject
• summarize —briefly list the important ideas you learned about the subject
• trace —outline how something has changed or developed from an earlier time to its current form
• research —gather material from outside sources about the subject, often with the implication or requirement that you will analyze what you have found

Relation words Ask you to demonstrate how things are connected.

• compare —show how two or more things are similar (and, sometimes, different)
• contrast —show how two or more things are dissimilar
• apply —use details that you’ve been given to demonstrate how an idea, theory, or concept works in a particular situation
• cause —show how one event or series of events made something else happen
• relate —show or describe the connections between things

Interpretation words Ask you to defend ideas of your own about the subject. Do not see these words as requesting opinion alone (unless the assignment specifically says so), but as requiring opinion that is supported by concrete evidence. Remember examples, principles, definitions, or concepts from class or research and use them in your interpretation.

• assess —summarize your opinion of the subject and measure it against something
• prove, justify —give reasons or examples to demonstrate how or why something is the truth
• evaluate, respond —state your opinion of the subject as good, bad, or some combination of the two, with examples and reasons
• support —give reasons or evidence for something you believe (be sure to state clearly what it is that you believe)
• synthesize —put two or more things together that have not been put together in class or in your readings before; do not just summarize one and then the other and say that they are similar or different—you must provide a reason for putting them together that runs all the way through the paper
• analyze —determine how individual parts create or relate to the whole, figure out how something works, what it might mean, or why it is important
• argue —take a side and defend it with evidence against the other side

More Clues to Your Purpose As you read the assignment, think about what the teacher does in class:

• What kinds of textbooks or coursepack did your instructor choose for the course—ones that provide background information, explain theories or perspectives, or argue a point of view?
• In lecture, does your instructor ask your opinion, try to prove their point of view, or use keywords that show up again in the assignment?
• What kinds of assignments are typical in this discipline? Social science classes often expect more research. Humanities classes thrive on interpretation and analysis.
• How do the assignments, readings, and lectures work together in the course? Instructors spend time designing courses, sometimes even arguing with their peers about the most effective course materials. Figuring out the overall design to the course will help you understand what each assignment is meant to achieve.

Now, what about your reader? Most undergraduates think of their audience as the instructor. True, your instructor is a good person to keep in mind as you write. But for the purposes of a good paper, think of your audience as someone like your roommate: smart enough to understand a clear, logical argument, but not someone who already knows exactly what is going on in your particular paper. Remember, even if the instructor knows everything there is to know about your paper topic, they still have to read your paper and assess your understanding. In other words, teach the material to your reader.

Aiming a paper at your audience happens in two ways: you make decisions about the tone and the level of information you want to convey.

• Tone means the “voice” of your paper. Should you be chatty, formal, or objective? Usually you will find some happy medium—you do not want to alienate your reader by sounding condescending or superior, but you do not want to, um, like, totally wig on the man, you know? Eschew ostentatious erudition: some students think the way to sound academic is to use big words. Be careful—you can sound ridiculous, especially if you use the wrong big words.
• The level of information you use depends on who you think your audience is. If you imagine your audience as your instructor and they already know everything you have to say, you may find yourself leaving out key information that can cause your argument to be unconvincing and illogical. But you do not have to explain every single word or issue. If you are telling your roommate what happened on your favorite science fiction TV show last night, you do not say, “First a dark-haired white man of average height, wearing a suit and carrying a flashlight, walked into the room. Then a purple alien with fifteen arms and at least three eyes turned around. Then the man smiled slightly. In the background, you could hear a clock ticking. The room was fairly dark and had at least two windows that I saw.” You also do not say, “This guy found some aliens. The end.” Find some balance of useful details that support your main point.

You’ll find a much more detailed discussion of these concepts in our handout on audience .

The Grim Truth

With a few exceptions (including some lab and ethnography reports), you are probably being asked to make an argument. You must convince your audience. It is easy to forget this aim when you are researching and writing; as you become involved in your subject matter, you may become enmeshed in the details and focus on learning or simply telling the information you have found. You need to do more than just repeat what you have read. Your writing should have a point, and you should be able to say it in a sentence. Sometimes instructors call this sentence a “thesis” or a “claim.”

So, if your instructor tells you to write about some aspect of oral hygiene, you do not want to just list: “First, you brush your teeth with a soft brush and some peanut butter. Then, you floss with unwaxed, bologna-flavored string. Finally, gargle with bourbon.” Instead, you could say, “Of all the oral cleaning methods, sandblasting removes the most plaque. Therefore it should be recommended by the American Dental Association.” Or, “From an aesthetic perspective, moldy teeth can be quite charming. However, their joys are short-lived.”

Convincing the reader of your argument is the goal of academic writing. It doesn’t have to say “argument” anywhere in the assignment for you to need one. Look at the assignment and think about what kind of argument you could make about it instead of just seeing it as a checklist of information you have to present. For help with understanding the role of argument in academic writing, see our handout on argument .

What kind of evidence do you need?

There are many kinds of evidence, and what type of evidence will work for your assignment can depend on several factors–the discipline, the parameters of the assignment, and your instructor’s preference. Should you use statistics? Historical examples? Do you need to conduct your own experiment? Can you rely on personal experience? See our handout on evidence for suggestions on how to use evidence appropriately.

Make sure you are clear about this part of the assignment, because your use of evidence will be crucial in writing a successful paper. You are not just learning how to argue; you are learning how to argue with specific types of materials and ideas. Ask your instructor what counts as acceptable evidence. You can also ask a librarian for help. No matter what kind of evidence you use, be sure to cite it correctly—see the UNC Libraries citation tutorial .

You cannot always tell from the assignment just what sort of writing style your instructor expects. The instructor may be really laid back in class but still expect you to sound formal in writing. Or the instructor may be fairly formal in class and ask you to write a reflection paper where you need to use “I” and speak from your own experience.

Try to avoid false associations of a particular field with a style (“art historians like wacky creativity,” or “political scientists are boring and just give facts”) and look instead to the types of readings you have been given in class. No one expects you to write like Plato—just use the readings as a guide for what is standard or preferable to your instructor. When in doubt, ask your instructor about the level of formality they expect.

No matter what field you are writing for or what facts you are including, if you do not write so that your reader can understand your main idea, you have wasted your time. So make clarity your main goal. For specific help with style, see our handout on style .

Technical details about the assignment

The technical information you are given in an assignment always seems like the easy part. This section can actually give you lots of little hints about approaching the task. Find out if elements such as page length and citation format (see the UNC Libraries citation tutorial ) are negotiable. Some professors do not have strong preferences as long as you are consistent and fully answer the assignment. Some professors are very specific and will deduct big points for deviations.

Usually, the page length tells you something important: The instructor thinks the size of the paper is appropriate to the assignment’s parameters. In plain English, your instructor is telling you how many pages it should take for you to answer the question as fully as you are expected to. So if an assignment is two pages long, you cannot pad your paper with examples or reword your main idea several times. Hit your one point early, defend it with the clearest example, and finish quickly. If an assignment is ten pages long, you can be more complex in your main points and examples—and if you can only produce five pages for that assignment, you need to see someone for help—as soon as possible.

Tricks that don’t work

Your instructors are not fooled when you:

• spend more time on the cover page than the essay —graphics, cool binders, and cute titles are no replacement for a well-written paper.
• use huge fonts, wide margins, or extra spacing to pad the page length —these tricks are immediately obvious to the eye. Most instructors use the same word processor you do. They know what’s possible. Such tactics are especially damning when the instructor has a stack of 60 papers to grade and yours is the only one that low-flying airplane pilots could read.
• use a paper from another class that covered “sort of similar” material . Again, the instructor has a particular task for you to fulfill in the assignment that usually relates to course material and lectures. Your other paper may not cover this material, and turning in the same paper for more than one course may constitute an Honor Code violation . Ask the instructor—it can’t hurt.
• get all wacky and “creative” before you answer the question . Showing that you are able to think beyond the boundaries of a simple assignment can be good, but you must do what the assignment calls for first. Again, check with your instructor. A humorous tone can be refreshing for someone grading a stack of papers, but it will not get you a good grade if you have not fulfilled the task.

Critical reading of assignments leads to skills in other types of reading and writing. If you get good at figuring out what the real goals of assignments are, you are going to be better at understanding the goals of all of your classes and fields of study.

You may reproduce it for non-commercial use if you use the entire handout and attribute the source: The Writing Center, University of North Carolina at Chapel Hill

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Other forms: assignments

Whether you’re an international spy with a new mission or a high school student with math homework — when you get an assignment , you’d better do it! An assignment is a task that someone in authority has asked you to do.

The word assignment is just the noun form of the common verb assign , which you use when you want to give someone a duty or a job. When you assign something, that something is called an assignment . The word can also refer to the act of distributing something. If you are distributing new office furniture at work, you might say, “ Assignment of the new chairs will begin tomorrow.”

• noun an undertaking that you have been assigned to do (as by an instructor) see more see less types: show 6 types... hide 6 types... school assignment , schoolwork a school task performed by a student to satisfy the teacher writing assignment , written assignment an assignment to write something classroom project a school task requiring considerable effort classwork the part of a student's work that is done in the classroom homework , prep , preparation preparatory school work done outside school (especially at home) lesson a task assigned for individual study type of: labor , project , task , undertaking any piece of work that is undertaken or attempted
• noun a duty that you are assigned to perform (especially in the armed forces) “a hazardous assignment ” synonyms: duty assignment see more see less types: show 10 types... hide 10 types... guard , guard duty , sentry duty , sentry go the duty of serving as a sentry fatigue , fatigue duty labor of a nonmilitary kind done by soldiers (cleaning or digging or draining or so on) charge , commission , mission a special assignment that is given to a person or group reassignment assignment to a different duty sea-duty , service abroad , shipboard duty naval service aboard a ship at sea shore duty naval service at land bases fool's errand a fruitless mission mission impossible an extremely dangerous or difficult mission martyr operation , sacrifice operation , suicide mission killing or injuring others while annihilating yourself; usually accomplished with a bomb secondment the detachment of a person from their regular organization for temporary assignment elsewhere type of: duty work that you are obliged to perform for moral or legal reasons
• noun the act of putting a person into a non-elective position synonyms: appointment , designation , naming see more see less types: show 6 types... hide 6 types... nomination the act of officially naming a candidate co-optation , co-option the act of appointing summarily (with or without the appointee's consent) delegacy the appointment of a delegate ordinance , ordination the act of ordaining; the act of conferring (or receiving) holy orders recognition designation by the chair granting a person the right to speak in a deliberative body laying on of hands laying hands on a person's head to invoke spiritual blessing in Christian ordination type of: conclusion , decision , determination the act of making up your mind about something
• noun the act of distributing something to designated places or persons “the first task is the assignment of an address to each datum” synonyms: assigning see more see less types: allocation , storage allocation (computer science) the assignment of particular areas of a magnetic disk to particular data or instructions type of: distribution the act of distributing or spreading or apportioning
• noun (law) a transfer of property by deed of conveyance synonyms: grant see more see less types: apanage , appanage a grant (by a sovereign or a legislative body) of resources to maintain a dependent member of a ruling family land grant a grant of public land (as to a railway or college) type of: transferred possession , transferred property a possession whose ownership changes or lapses
• noun the instrument by which a claim or right or interest or property is transferred from one person to another see more see less type of: instrument , legal document , legal instrument , official document (law) a document that states some contractual relationship or grants some right

Vocabulary lists containing assignment

The Dawes Act, or General Allotment Act of 1887, was a law that allowed the U.S. government to take Native American tribal lands and divide them into 40 acre lots for individual Native Americans. The goal was to break up communal tribal lands and speed the assimilation of Native Americans into American society. The Dawes Act caused great suffering with much of the land winding up in the hands of white settlers.

Learn these words from the autobiography by David Lubar (Inside: Level B, Unit 4). Here are our links to the selections of "Every Body Is a Winner": The Human Machine; My Fabulous Footprint , The Beat Goes On; All Pumped Up , Two Left Feet, Two Left Hands , How Coach Told Me; Bionics Here are our links to the units of Level B: Unit 1 , Unit 2 , Unit 3 , Unit 4 , Unit 5 , Unit 6 , Unit 7 , Unit 8 Here are our links to the Inside books: Level A , Level B , Level C Here is our link to a list of academic vocabulary for Inside: Academic Vocabulary

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Understanding the Assignment of Mortgages: What You Need To Know

3 minute read • Upsolve is a nonprofit that helps you get out of debt with education and free debt relief tools, like our bankruptcy filing tool.  Think TurboTax for bankruptcy. Get free education, customer support, and community. Featured in Forbes 4x and funded by institutions like Harvard University so we'll never ask you for a credit card.  Explore our free tool

A mortgage is a legally binding agreement between a home buyer and a lender that dictates a borrower's ability to pay off a loan. Every mortgage has an interest rate, a term length, and specific fees attached to it.

Written by Attorney Todd Carney .  Updated November 26, 2021

If you’re like most people who want to purchase a home, you’ll start by going to a bank or other lender to get a mortgage loan. Though you can choose your lender, after the mortgage loan is processed, your mortgage may be transferred to a different mortgage servicer . A transfer is also called an assignment of the mortgage. 

No matter what it’s called, this change of hands may also change who you’re supposed to make your house payments to and how the foreclosure process works if you default on your loan. That’s why if you’re a homeowner, it’s important to know how this process works. This article will provide an in-depth look at what an assignment of a mortgage entails and what impact it can have on homeownership.

Assignment of Mortgage – The Basics

When your original lender transfers your mortgage account and their interests in it to a new lender, that’s called an assignment of mortgage. To do this, your lender must use an assignment of mortgage document. This document ensures the loan is legally transferred to the new owner. It’s common for mortgage lenders to sell the mortgages to other lenders. Most lenders assign the mortgages they originate to other lenders or mortgage buyers.

Home Loan Documents

When you get a loan for a home or real estate, there will usually be two mortgage documents. The first is a mortgage or, less commonly, a deed of trust . The other is a promissory note. The mortgage or deed of trust will state that the mortgaged property provides the security interest for the loan. This basically means that your home is serving as collateral for the loan. It also gives the loan servicer the right to foreclose if you don’t make your monthly payments. The promissory note provides proof of the debt and your promise to pay it.

When a lender assigns your mortgage, your interests as the mortgagor are given to another mortgagee or servicer. Mortgages and deeds of trust are usually recorded in the county recorder’s office. This office also keeps a record of any transfers. When a mortgage is transferred so is the promissory note. The note will be endorsed or signed over to the loan’s new owner. In some situations, a note will be endorsed in blank, which turns it into a bearer instrument. This means whoever holds the note is the presumed owner.

Using MERS To Track Transfers

Banks have collectively established the Mortgage Electronic Registration System , Inc. (MERS), which keeps track of who owns which loans. With MERS, lenders are no longer required to do a separate assignment every time a loan is transferred. That’s because MERS keeps track of the transfers. It’s crucial for MERS to maintain a record of assignments and endorsements because these land records can tell who actually owns the debt and has a legal right to start the foreclosure process.

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Assignment of Mortgage Requirements and Effects

The assignment of mortgage needs to include the following:

The original information regarding the mortgage. Alternatively, it can include the county recorder office’s identification numbers. 

The borrower’s name.

The mortgage loan’s original amount.

The date of the mortgage and when it was recorded.

Usually, there will also need to be a legal description of the real property the mortgage secures, but this is determined by state law and differs by state.

Notice Requirements

The original lender doesn’t need to provide notice to or get permission from the homeowner prior to assigning the mortgage. But the new lender (sometimes called the assignee) has to send the homeowner some form of notice of the loan assignment. The document will typically provide a disclaimer about who the new lender is, the lender’s contact information, and information about how to make your mortgage payment. You should make sure you have this information so you can avoid foreclosure.

Mortgage Terms

When an assignment occurs your loan is transferred, but the initial terms of your mortgage will stay the same. This means you’ll have the same interest rate, overall loan amount, monthly payment, and payment due date. If there are changes or adjustments to the escrow account, the new lender must do them under the terms of the original escrow agreement. The new lender can make some changes if you request them and the lender approves. For example, you may request your new lender to provide more payment methods.

Taxes and Insurance

If you have an escrow account and your mortgage is transferred, you may be worried about making sure your property taxes and homeowners insurance get paid. Though you can always verify the information, the original loan servicer is responsible for giving your local tax authority the new loan servicer’s address for tax billing purposes. The original lender is required to do this after the assignment is recorded. The servicer will also reach out to your property insurance company for this reason.  

If you’ve received notice that your mortgage loan has been assigned, it’s a good idea to reach out to your loan servicer and verify this information. Verifying that all your mortgage information is correct, that you know who to contact if you have questions about your mortgage, and that you know how to make payments to the new servicer will help you avoid being scammed or making payments incorrectly.

Let's Summarize…

In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lender’s interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgage’s terms should remain the same. Your interest rate, loan amount, monthly payment, and payment schedule shouldn’t change. 

Your original lender isn’t required to notify you or get your permission prior to assigning your mortgage. But you should receive correspondence from the new lender after the assignment. It’s important to verify any change in assignment with your original loan servicer before you make your next mortgage payment, so you don’t fall victim to a scam.

Attorney Todd Carney

Attorney Todd Carney is a writer and graduate of Harvard Law School. While in law school, Todd worked in a clinic that helped pro-bono clients file for bankruptcy. Todd also studied several aspects of how the law impacts consumers. Todd has written over 40 articles for sites such... read more about Attorney Todd Carney

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Mortgage Assignment Laws and Definition

(This may not be the same place you live)

  What is a Mortgage Assignment?

A mortgage is a legal agreement. Under this agreement, a bank or other lending institution provides a loan to an individual seeking to finance a home purchase. The lender is referred to as a creditor. The person who finances the home owes money to the bank, and is referred to as the debtor.

To make money, the bank charges interest on the loan. To ensure the debtor pays the loan, the bank takes a security interest in what the loan is financing — the home itself. If the buyer fails to pay the loan, the bank can take the property through a foreclosure proceeding.

There are two main documents involved in a mortgage agreement. The document setting the financial terms and conditions of repayment is known as the mortgage note. The bank is the owner of the note. The note is secured by the mortgage. This means if the debtor does not make payment on the note, the bank may foreclose on the home. 

The document describing the mortgaged property is called the mortgage agreement. In the mortgage agreement, the debtor agrees to make payments under the note, and agrees that if payment is not made, the bank may institute foreclosure proceedings and take the home as collateral .

An assignment of a mortgage refers to an assignment of the note and assignment of the mortgage agreement. Both the note and the mortgage can be assigned. To assign the note and mortgage is to transfer ownership of the note and mortgage. Once the note is assigned, the person to whom it is assigned, the assignee, can collect payment under the note. 

Assignment of the mortgage agreement occurs when the mortgagee (the bank or lender) transfers its rights under the agreement to another party. That party is referred to as the assignee, and receives the right to enforce the agreement’s terms against the assignor, or debtor (also called the “mortgagor”). 

What are the Requirements for Executing a Mortgage Assignment?

What are some of the benefits and drawbacks of mortgage assignments, are there any defenses to mortgage assignments, do i need to hire an attorney for help with a mortgage assignment.

For a mortgage to be validly assigned, the assignment document (the document formally assigning ownership from one person to another) must contain:

• The current assignor name.
• The name of the assignee.
• The current borrower or borrowers’ names. 
• A description of the mortgage, including date of execution of the mortgage agreement, the amount of the loan that remains, and a reference to where the mortgage was initially recorded. A mortgage is recorded in the office of a county clerk, in an index, typically bearing a volume or page number. The reference to where the mortgage was recorded should include the date of recording, volume, page number, and county of recording.
• A description of the property. The description must be a legal description that unambiguously and completely describes the boundaries of the property.

There are several types of assignments of mortgage. These include a corrective assignment of mortgage, a corporate assignment of mortgage, and a mers assignment of mortgage. A corrective assignment corrects or amends a defect or mistake in the original assignment. A corporate assignment is an assignment of the mortgage from one corporation to another. 

A mers assignment involves the Mortgage Electronic Registration System (MERS). Mortgages often designate MERS as a nominee (agent for) the lender. When the lender assigns a mortgage to MERS, MERS does not actually receive ownership of the note or mortgage agreement. Instead, MERS tracks the mortgage as the mortgage is assigned from bank to bank. 

An advantage of a mortgage assignment is that the assignment permits buyers interested in purchasing a home, to do so without having to obtain a loan from a financial institution. The buyer, through an assignment from the current homeowner, assumes the rights and responsibilities under the mortgage. 

A disadvantage of a mortgage assignment is the consequences of failing to record it. Under most state laws, an entity seeking to institute foreclosure proceedings must record the assignment before it can do so. If a mortgage is not recorded, the judge will dismiss the foreclosure proceeding. 

Failure to observe mortgage assignment procedure can be used as a defense by a homeowner in a foreclosure proceeding. Before a bank can institute a foreclosure proceeding, the bank must record the assignment of the note. The bank must also be in actual possession of the note. 

If the bank fails to “produce the note,” that is, cannot demonstrate that the note was assigned to it, the bank cannot demonstrate it owns the note. Therefore, it lacks legal standing to commence a foreclosure proceeding.

If you need help with preparing an assignment of mortgage, you should contact a mortgage lawyer . An experienced mortgage lawyer near you can assist you with preparing and recording the document.

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7 Types of Homework for Students

Chris Drew (PhD)

Dr. Chris Drew is the founder of the Helpful Professor. He holds a PhD in education and has published over 20 articles in scholarly journals. He is the former editor of the Journal of Learning Development in Higher Education. [Image Descriptor: Photo of Chris]

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There are seven types of homework. These are practice, preparation, extension, integration, research, application, and flipped homework.

Each type of homework has its own role for students learning. The important task for teachers is to select homework that will best provide holistic support to a student.

This doesn’t mean just supporting students for the upcoming exams but also ensuring students are not overwhelmed by homework and that they can still live a balanced life outside of school.

Types of Homework

1. practice.

Practice is the most common task students have when they are given homework. It entails attempting to reinforce information learned in school so that students will commit it to long-term memory.

An example of practice homework is math workbooks. Usually, a teacher will complete the math task in class so students know how to do it, then give them a workbook of 20 – 50 tasks to complete overnight to reinforce the task.

The benefit of practice homework is that it can certainly help students commit what they learned in class to memory. This is especially the case if teachers used spaced repetition. This is a strategy whereby the teacher re-introduces things learned in previous weeks and months during homework revision so the information is not lost over time.

The downside of practice homework is that the child is learning on their own during this period. This means that, if the child hasn’t sufficiently learned the content in class, they don’t have anyone to help them during homework time. This can lead to a great deal of frustration and despair for students staring at a piece of paper feeling lost and confused.

Related: Homework Statistics

2. Preparation

Preparation homework is given to students before a lesson so they have the important information at hand before class.

Commonly, this occurs when teachers provide reading materials for students to look over between class. They then come to class having read the materials so they are ready to discuss and debate the topics.

It’s also commonly used in language learning, where it’s called pre-teaching of vocabulary. The teacher provides vocabulary to learn before class so the students can come to class and practice it together.

The benefit of preparation homework is that it bunches a lot of the didactic (non-interactive) parts of learning into the pre-class time so students can spend most of their time in class interacting with the teacher and peers.

The downside of preparation homework is that it rarely works as expected. Teachers often spend the first 10 to 15 minutes of class re-teaching what was supposed to be done for homework either because students found it too hard or they didn’t do the tasks.

3. Extension

Extension homework involves providing students with tasks that are based upon what was learned in class, but goes over and above those tasks.

It is the equivalent of teaching a student to swim then letting them out into the ocean. The students have to apply their knowledge in a new context without the support or ‘ scaffolding ’ of a teacher hovering over their shoulders.

The benefit of extension homework is it can give students a lot of confidence. They can go home and feel as if they’re excelling at their work when they find that they’re doing it without the support of a teacher.

The downside of extension homework is that it can be risky: by definition, students are extending themselves beyond what was learned in class, meaning they will come across new information and new contexts where they might need help that’s not available at the time.

Related: Homework Pros and Cons

4. Integration

Integration homework requires students to bring together, or ‘integrate’, knowledge from various subjects and knowledge areas into one project.

The homework may involve the integration of history lessons with writing lessons to create a book report, or the integration of math with business studies to create a business plan.

Integration is great for students to draw connections between things they have learned in various different classes at school. However, it also involves a lot of complexity that may make students feel confused or overwhelmed.

5. Research

Research homework involves using your time after school and on weekends to gather data that will be discussed in class.

Often, this can involve interviewing family members, taking photos around your community, or looking up information on the internet.

The benefit of research homework is that students often come to class with exciting things to share. They will also come with questions to help stimulate conversation in class.

However, it’s important for teachers to be aware that not all students have access to high-speed internet and other resources to conduct research. In fact, in my homework statistics article, I discussed how a staggering 24% of low-income American teens regularly fail to complete homework due to lack of access to technology.

6. Application

Application homework involves taking knowledge learned in class and applying it to real-world settings.

This is common in immersive language learning settings, for example, when teachers ask students to go out into the streets and practice new vocabulary when ordering a drink or buying food.

The benefit of application homework is that it gives real-world context to what was learned in class. By applying your knowledge, you can more effectively commit it to memory than simply rote learning it at your kitchen table.

Application in a real-world setting provides a context and a story that you can easily pull from your memory in the future, helping you to retain information long-term.

7. Flipped Homework

The flipped learning movement is a movement that involves making students learn at home on their own then come to class to practice it.

For teachers, this means thinking about school as the space for ‘traditional’ homework and home as the space for instruction.

This is increasingly popular with technology and hybrid learning environments. For example, a teacher might assign a YouTube video to watch as homework before class. Then, the class involves dissecting the video and critiquing it.

The benefit of flipped learning is that it maximizes time for constructivist and hands-on active learning in the classroom. The downside is students can get confused during preparation, they may not complete the preparation work, or technology may fail on them.

What are the Functions of Homework?

Homework serves multiple purposes. These include:

• Getting Ahead: Many schools and parents give their children homework (including private tutoring help so their children can have an advantage in life over other children.
• Keeping Up: On a societal level, many governments encourage homework so that students can keep up with other societies in the ‘education race’ of the 21st Century. Some societies, like South Korea, heavily emphasize homework, and others feel they need to keep up.
• Catching Up: Many students are assigned homework to catch up with the rest of their class. If you find a topic very difficult, you may find you need to spend a lot more time on your own working through the information than your peers.
• Retention: Homework helps you to repeat and retain information. With extra practice, you can commit information to memory.
• Excitement: Some well-made homework can get students excited to come to class to discuss what they did.
• Application: Situation-based learning, where you’re applying what you learned in class to real-world situations, can help progress students’ knowledge in ways that you can’t in school.
• Home-School Relationships: Homework also serves the purpose of ensuring parents know what’s going on in school. Many parents like to see what children are learning so they can monitor their children’s progress and keep teachers accountable.

Homework comes in all shapes and sizes. While many teachers stick to the old fashioned repetition homework mode, I’d encourage you to try out a range of other types of homework that can keep students engaged, encourage more discussion and collaboration in class, and ensure that the difficult work where students need the teacher’s help takes place in the classroom. This will provide maximum support for your students, help propel them forward, and prevent arguments for why homework should be banned .

• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd-2/ 10 Reasons you’re Perpetually Single
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• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd-2/ 101 Hidden Talents Examples

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• Mortgage Guide
• Assignment Of Mortgage

What Is Assignment Of Mortgage And What Does It Mean For You?

An assignment of mortgage may sound somewhat intimidating at first, especially if you receive a notice about one out of the blue from your current loan provider. But in actuality, an assignment of mortgage is a quite common and routine practice in real estate circles that’s nothing to worry about. In essence, it simply means that your lender has sold your mortgage note to a government-sponsored enterprise (GSE) or a private investor. Having effectively transferred your debt to another servicer, it likewise means that going forward from a set date, you’ll be making payments to the new loan holder. 

This typically happens because once you close on your mortgage loan, your lender will quickly look to sell the mortgage note on to another entity. Doing so allows your mortgage provider to ensure future financial liquidity so that it can keep extending home loans to other borrowers. Under such a scenario, your original loan holder basically “flips” the mortgage and assigns its security rights in a home to the new owner of the note instead.

What Does Assignment Of Mortgage Mean?  

An assignment of mortgage is a legal term that refers to the transfer of the security instrument that underlies your mortgage loan − aka your home. When a lender sells the mortgage on, an investor effectively buys the note, and the mortgage is assigned to them at this time. The assignment of mortgage occurs because without a security instrument attached to the sale (aka the mortgage), this purchasing investor could, in theory, receive monthly mortgage payments, but hold no legal right to take action if you defaulted on making timely payments.

Note that in some states, deeds of trust are used in place of mortgage instruments. In the event that your property is located in one of these regions, a lender need only endorse the note over to the new owner to convey the security interest.

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Home purchase, home refinance, tap into equity, when does a mortgage lender sell a mortgage note.

Quite quickly, as it turns out. Once a lender originates a mortgage by cutting you a check at closing, it tends to sell the mortgage almost immediately so that it can remain liquid and originate more loans to other borrowers in the future. The federal government actively encouraged the commonplace nature of this activity by creating government-sponsored enterprises Freddie Mac and Fannie Mae to buy mortgages from lenders so that mortgage lenders could continue making loans. In fact, it’s not uncommon for your mortgage note to be sold many times over and over during the life of your home loan. The only material difference from a borrower’s standpoint is typically where they send their mortgage payments and who they contact when they need customer service.

Who Buys Mortgage Notes?

The large-scale purchase of mortgages has given rise to a secondary mortgage market , where individual buyers or groups of investors buy mortgage notes or shares of large groups of mortgages. These mortgages are seen as relatively safe investments that provide regular income that comes from a homeowner making regular and recurring monthly mortgage payments. Keeping this in mind, it’s quite typical for mortgages to be sold and resold frequently once issued as noted above.

Why Is An Assignment Of Mortgage Necessary?

Home buyers will sign many papers as part of the closing process on the purchase of a piece of property. However, the two most important include the mortgage note (which includes all of the terms regarding the repayment of the debt) and a mortgage. Legally, the term “mortgage” refers only to the document that states that the home can be sold in case of default. Under an assignment of mortgage, both documents are transferred to their new owner for servicing.

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How Does An Assignment Of Mortgage Affect My Home Ownership?  

Not much in any material fashion, as the sale of the mortgage note and assignment of mortgage do not affect the terms of the contract contained in the note. Rather, an assignment of mortgage largely means that you’ll be making your same old payments to a different lender at a different online or physical address. Likewise, it means that you’ll be calling a different number and dealing with a different group of customer service workers when you have a question or concern.

How Do I Find Out Who Owns My Mortgage?

For one, the mortgage owner will contact you and make you aware an assignment of mortgage has occurred. This information can also be found in the Mortgage Electronic Registration System (MERS) , which banks rely on to track such transfers. Note that your current mortgage provider will also be in touch when an assignment of mortgage is pending to provide you with a heads-up and help ease the transition.

The Bottom Line: Your Mortgage Has A Life Of Its Own After You Close

As a home buyer, the terms of your mortgage shouldn’t change after closing, although expenses related to select taxes, insurance payments and (in the case of adjustable-rate mortgages) interest rates may shift at a later date. These changes have nothing to do with who services your loan. The terms of your mortgage cannot be changed by a new owner.

While terms stay the same, the servicer of your mortgage may change many times over the course of your home loan’s tenure, as mortgages are routinely bought and sold by providers on the secondary market. That’s because your mortgage represents a plum investment opportunity (complete with regular, recurring payments) to many investors.

Speaking of real estate financing … are you looking to learn more about passive real estate investment ? You can discover a wealth of insights in our Learning Center.

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Definition of assignment noun from the Oxford Advanced American Dictionary

Questions about grammar and vocabulary?

Find the answers with Practical English Usage online, your indispensable guide to problems in English.

• 2 [ uncountable ] the act of giving something to someone; the act of giving someone a particular task his assignment to other duties in the same company

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Assignment Definition

Investing Strategy , Jargon, Legal, Terminology, Title

Table of Contents

• What Is an Assignment?
• What is an Assignment in Real Estate?
• What Does it Mean to Assign a Contract in Real Estate?
• How Does a Contract Assignment Work?
• Pros and Cons of Assigning Contracts

REtipster does not provide legal advice. The information in this article can be impacted by many unique variables. Always consult with a qualified legal professional before taking action.

An assignment or assignment of contract is a way to profit from a real estate transaction without becoming the owner of the property.

The assignment method is a standard tool in a real estate wholesaler’s kit and lowers the barrier to entry for a real estate investor because it does not require the wholesaler to use much (or any) of their own money to profit from a deal.

Contract assignment is a common wholesaling strategy where the seller and the wholesaler (acting as a middleman in this case) sign an agreement giving the wholesaler the sole right to buy a property at a specified price, within a certain period of time.

The wholesaler then finds another buyer and assigns the contract to him or her. The wholesaler isn’t selling the property to the end buyer because the wholesaler never takes title to the property during the process. The wholesaler is simply selling the contract, which gives the end buyer the right to buy the property in accordance with the original purchase agreement.

In doing this, the wholesaler can earn an assignment fee for putting the deal together.

Some states require a real estate wholesaler to be a licensed real estate agent, and the assignment strategy can’t be used for HUD homes and REOs.

The process for assigning a contract follows some common steps. In summary, it looks like this:

• Find the right property.
• Get a purchase agreement signed.
• Find an end buyer.
• Assign the contract.
• Close the transaction and collect your assignment fee.

We describe each step in the process below.

1. Find the Right Property

This is where the heavy lifting happens—investors use many different marketing tactics to find leads and identify properties that work with their investing strategy. Typically, for wholesaling to work, a wholesaler needs a motivated seller who wants to unload the property as soon as possible. That sense of urgency works to the wholesaler’s advantage in negotiating a price that will attract buyers and cover their assignment fee.

RELATED: What is “Driving for Dollars” and How Does It Work?

2. Get a Purchase Agreement Signed

Once a motivated seller has agreed to sell their property at a discounted price, they will sign a purchase agreement with the wholesaler. The purchase agreement needs to contain specific, clear language that allows the wholesaler (for example, you) to assign their rights in the agreement to a third party.

Note that most standard purchase agreements do not include this language by default. If you plan to assign this contract, make sure this language is included. You can consult an attorney to cover the correct verbiage in a way that the seller understands it.

RELATED: Wholesaling Made Simple! A Comprehensive Guide to Assigning Contracts

This can’t be stressed enough: It’s extremely important for a wholesaler to communicate with their seller about their intent to assign the contract. Many sellers are not familiar with the assignment process, so if the role of the buyer is going to change along the way, the seller needs to be aware of this on or before they sign the original purchase agreement.

3. Find an End Buyer

This is the other half of a wholesaler’s job—marketing to find buyers. Once they find an end buyer, the wholesaler can assign the contract to the new party and work with the original seller and the end buyer to schedule a closing date.

4. Assign the Contract

Assigning the contract works through a simple assignment agreement. This agreement allows the end buyer to step into the wholesaler’s shoes as the buyer in the original contract.

In other words, this document “replaces” the wholesaler with the new end buyer.

Most assignment contracts include language for a nonrefundable deposit from the end buyer, which protects the wholesaler if the buyer backs out. While you can download assignment contract templates online, most experts recommend having an attorney review your contracts. The assignment wording has to be precise and comply with applicable local laws to protect you from issues down the road.

5. Close the Transaction and Collect the Assignment Fee

Finally, you will receive your assignment fee (or wholesale fee) when the end buyer closes the deal.

The assignment fee is often the difference between the original purchase price (the price that the seller agreed with the wholesaler) and the end buyer’s purchase price (the price the wholesaler agreed with the end buyer), but it can also be a percentage of it or even a flat amount.

According to UpCounsel, most contract assignments are done for about $5,000, although depending on the property and the market, it could be higher or lower.

IMPORTANT: the end buyer will see precisely how much the assignment fee is. This is because they must sign two documents that show the original price and the assignment fee: the closing statement and the assignment agreement, respectively, to close the transaction.

In many cases, if the assignment fee is a reasonable amount relative to the purchase price, most buyers won’t take any issue with the wholesaler taking their fee—after all, the wholesaler made the deal happen, and it’s compensation for their efforts. However, if the assignment fee is too big (such as the wholesaler taking $20,000 from an original purchase price of $10,000, while the end buyer buys it for $50,000), it may ruffle some feathers and lead to uncomfortable questions.

In these instances where the wholesaler has a substantially higher profit margin, a wholesaler can instead do a double closing . In a double closing, the wholesaler closes two separate deals (one with the seller and another with the buyer) on the same day, but the seller and buyer cannot see the numbers and overall profit margin the wholesaler makes between the two transactions. This makes a double closing a much safer way to conclude a transaction.

Assigning contracts is a way to lower the barrier to entry for many new real estate investors; because they don’t need to put up their own money to buy a property or assume any risk in financing a deal.

The wholesaler isn’t part of the title chain, which streamlines the process and avoids the hassle of closing two times. Compared to the double-close strategy, assignment contracts require less paperwork and are usually less costly (because there is only one closing occurring, rather than two separate transactions).

On the downside, the wholesaler has to sell the property as-is, because they don’t own it at any point and they cannot make repairs or renovations to make the property look more attractive to a potential buyer. Financing may be much more difficult for the end buyer because many mortgage lenders won’t work with assigned contracts. Purchase Agreements also have expiration dates, which means the wholesaler has a limited window of time to find an end buyer and get the deal done.

Being successful with assignment contracts usually comes down to excellent marketing, networking, and communication between all parties involved. It’s all about developing strategies to find the right properties and having a solid network of investors you can assign them to quickly.

It’s also critical to be aware of any applicable laws in the jurisdiction where the wholesaler is working and holding any licenses required for these kinds of real estate transactions.

Related terms

Double closing, wholesaling (real estate wholesaling), transactional funding.

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Definition of assign

 (Entry 1 of 2)

transitive verb

Definition of assign  (Entry 2 of 2)

• intrust

ascribe , attribute , assign , impute , credit mean to lay something to the account of a person or thing.

ascribe suggests an inferring or conjecturing of cause, quality, authorship.

attribute suggests less tentativeness than ascribe , less definiteness than assign .

assign implies ascribing with certainty or after deliberation.

impute suggests ascribing something that brings discredit by way of accusation or blame.

credit implies ascribing a thing or especially an action to a person or other thing as its agent, source, or explanation.

Examples of assign in a Sentence

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'assign.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

Verb and Noun

Middle English, from Anglo-French assigner , from Latin assignare , from ad- + signare to mark, from signum mark, sign

13th century, in the meaning defined at sense 1

15th century, in the meaning defined above

Phrases Containing assign

• pre - assign

Dictionary Entries Near assign

Cite this entry.

“Assign.” Merriam-Webster.com Dictionary , Merriam-Webster, https://www.merriam-webster.com/dictionary/assign. Accessed 18 Sep. 2024.

Kids Definition

Kids definition of assign, legal definition, legal definition of assign.

Legal Definition of assign  (Entry 2 of 2)

More from Merriam-Webster on assign

Nglish: Translation of assign for Spanish Speakers

Britannica English: Translation of assign for Arabic Speakers

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Is Buying a Home on Assignment a Good Idea?

Buying on assignment has become an increasingly popular method of buying a home or condo. We answer the most commonly asked questions about buying on assignment and conclude whether or not buying an assignment home or condo is worth it.

What is buying on assignment?

Buying a home on assignment is a process where the buyer purchases a home that is already under contract with another buyer. The buyer then takes over the existing contract, assuming all of the obligations and responsibilities of the original buyer. This process is often used to purchase homes that are in foreclosure or are subject to a short sale. It is also a common way to purchase pre-construction homes or condos. It is important to note that the process of buying a home on assignment is complex and may involve legal and financial considerations. It is important to consult with a qualified real estate professional before entering into this type of transaction.

How does buying on assignment work?

In an assignment purchase, the buyer (the assignor) enters into a purchase agreement with the seller and pays a deposit. The assignor then assigns the purchase agreement to another buyer (the assignee). The assignee then takes over the purchase agreement, pays the remaining balance, and closes on the purchase. Think of buying on assignment as purchasing the option to buy a home closing on a future date at a pre-determined price.

Is buying on assignment cheaper?

Yes, buying a home on assignment is often cheaper than buying resale. As assignment buyers are purchasing an unbuilt or partially finished home, the seller (assignor) typically offers a discount or incentive to compensate buyers for having to wait for the home to be built. If you aren’t in a time crunch to move in, buying on assignment can be a great way to purchase a great home at below market value.

Is Buying a Home on Assignment a Good Investment?

Buying a home on assignment offers a number of advantages including reduced wait times to move into a brand new home, lower purchase price vs resale and less competition from other buyers during sellers markets.

The waiting period for an assignment home is shorter than pre-construction.

When buying a home on assignment, typically the builder has already begun construction. As such, buyers will not have to wait years for builders to obtain permits and sell a minimum number of units before breaking ground. This gives assignment buyers the benefit of getting a brand new home without having to wait 2-5 years.

Assignment homes are less expensive than resale.

Properties purchased on assignment cost less than their equivalent on the resale market. This is because the prices of homes on the assignment market are discounted to compensate potential buyers for buying an unfinished product and having to wait for completion.

There is less competition for assignment sales during sellers markets.

When the demand for homes is greater than the available supply in a particular market, this drives intense competition among buyers which triggers bidding wars and rapid increases in home prices. Buyers seeking to avoid engaging in bidding wars when the resale market is highly competitive will find that there is less competition from other buyers in the assignment market. In such environments, it can be reassuring to know that its possible to secure a desirable home without having to outbid other offers.

Your investment will likely increase in value when construction is complete.

Assuming similar market conditions, pre-construction homes and condos will increase in value upon registration. As the assignment buyer takes on the risk of buying a unit on plans that doesn’t physically exist yet, they typically see an equity gain after successful completion of the project because this speculation risk is no longer present.

What are the cons of buying on assignment?

Assignment buyers get less selection of features and finishes.

Many of the options and upgrades offered by the builder will have already been chosen by the original buyer. As such, assignment buyers will get limited (if any) opportunity to pick their own.

Assignment purchases are more difficult to finance.

Some lenders don’t offer financing for assignment sales, so this will reduce the list of potential financial institutions that can finance your purchase. It’s important to check with your mortgage broker or prospective lender before signing up to purchase a home on assignment.

Assignment purchases can be cash-intensive.

When buying a pre-construction home directly from the builder, buyers get the benefit of a long time window to pay the down payment, and can do so in progressive stages. When buying an assignment home however, sellers will require that a buyer come up with the entire amount that's been put down on the property to date, plus a profit to compensate for equity the property has gained. This means an assignment buyer could be putting down close to, if not more than 20% of the original purchase price as a down payment.

Assignment buyers need to bear the closing costs.

When you take over the contract to buy a pre-construction home, you also take on responsibility for the costs associated with closing and registration such as development levies, utility hookups and Tarion fees. We have a comprehensive article on buying pre-construction that covers these costs in greater detail.

Can you negotiate the price on an assignment sale?

When buying a property on assignment, you cannot negotiate the price because you are taking over an existing contract made between the original buyer and the builder. That said, the original buyer (assignor) may be willing to offer a cash discount or other incentive to the assignee for taking over the agreement, The original buyer’s willingness to offer additional incentives will depend largely on the state of the assignment market at that time. In a softer market which is characterized by a large number of available listings on the and/or softer than normal demand, assignment buyers will have more leverage to negotiate a better deal.

How much deposit do I need for an assignment sale?

The amount of deposit required for an assignment sale will vary depending on the terms of the sale. Generally, the buyer will need to provide a deposit of at least five percent of the purchase price.

Do you pay tax on an assignment sale?

Yes, you may have to pay taxes on an assignment sale. Depending on the jurisdiction, you may be required to pay capital gains taxes on any profits made from the sale. It is important to consult a qualified tax professional for advice on how to properly report any taxes owed on an assignment sale.

In the Province of Ontario, you are required to pay HST on an assignment sale. Typically, the HST is paid by the buyer.

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[ uh - sahyn -m uh nt ]

She completed the assignment and went on to other jobs.

Synonyms: job , obligation

He left for his assignment in the Middle East.

• an act of assigning; appointment.
• the transference of a right, interest, or title, or the instrument of transfer.
• a transference of property to assignees for the benefit of creditors.

/ əˈsaɪnmənt /

• something that has been assigned, such as a mission or task
• a position or post to which a person is assigned
• the act of assigning or state of being assigned

assignment of a lease

• the document effecting such a transfer
• the right, interest, or property transferred
• law (formerly) the transfer, esp by an insolvent debtor, of property in trust for the benefit of his creditors
• logic a function that associates specific values with each variable in a formal expression
• history a system (1789–1841) whereby a convict could become the unpaid servant of a freeman

Other Words From

• misas·signment noun
• nonas·signment noun
• reas·signment noun

Word History and Origins

Origin of assignment 1

Synonym Study

Example sentences.

Yariel Valdés González and I faced these challenges while on assignment in South Florida and the Deep South from July 21-Aug.

They’re putting time into decoration just as they would in their physical classroom, and students can interact with the space by, say, clicking on a bookshelf to get a reading assignment.

For now, if the district moves to in-person learning, instruction in Carlsbad will take place on campus five days per week and students may engage in additional independent practices and other assignments at home.

The assignments must also respect the relationships between the elements in the group.

It’s very hard, by the way, to do real random assignment studies of couples therapy.

His most recent assignment was the 84th Precinct, at the Brooklyn end of the Brooklyn Bridge.

When Lewis was shipped off to Vietnam, his son was just three months old, and the timing of the assignment worried Lewis.

When Vial got that first assignment, she was just beginning her photography career, and Cirque du Soleil was only a few years old.

“For our winter issue, we gave ourselves one assignment: Break The Internet,” wrote Paper.

By the 1950s the rapid assignment of gender to an ambiguously gendered infant had become standard.

Consent to an assignment may be given by the president of the company, without formal vote by the directors.

A transfer by the lessee of the whole or a part of his interest for a part of the time is a sublease and not an assignment.

An assignment to one who has an insurable interest as relative, creditor and the like, is always valid.

When an assignment of it is made, the assignee may sue in his own name for rent accruing after the assignment.

In some states statutes forbid the assignment of such policies for the benefit of creditors.

Related Words

• appointment

• Cambridge Dictionary +Plus

Meaning of assignment in English

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• It was a plum assignment - more of a vacation really.
• He took this award-winning photograph while on assignment in the Middle East .
• His two-year assignment to the Mexico office starts in September .
• She first visited Norway on assignment for the winter Olympics ten years ago.
• He fell in love with the area after being there on assignment for National Geographic in the 1950s.
• act as something
• all work and no play (makes Jack a dull boy) idiom
• be at work idiom
• be in work idiom
• housekeeping
• in the line of duty idiom
• join duty idiom
• undertaking

You can also find related words, phrases, and synonyms in the topics:

assignment | Intermediate English

Assignment | business english, examples of assignment, collocations with assignment.

These are words often used in combination with assignment .

Click on a collocation to see more examples of it.

Translations of assignment

Get a quick, free translation!

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the activity of searching for information about something, often over a long period

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Diddy's alleged 1,000 bottles of baby oil, 'Freak Off' parties explained

Sean 'diddy' combs indicted: what's next.

Sean "Diddy" Combs headed to jail on Tuesday to await trial in a federal sex trafficking case that accuses him of presiding over a sordid empire of sexual crimes protected by blackmail and shocking acts of violence.

NEW YORK - Questions are swirling around the salacious allegations at the center of Sean "Diddy" Combs' sex trafficking and racketeering charges , including his alleged "Freak Off" parties and the seizure of 1,000 bottles of baby oil by federal authorities.

He's accused of inducing female victims and male sex workers into drugged-up, sometimes dayslong sexual performances dubbed "Freak Offs." He's pleaded not guilty.

Click here for Diddy indictment text

Where is Diddy now?

LONDON, UNITED KINGDOM - NOVEMBER 10: P Diddy is seen out and about on November 10, 2023 in London, United Kingdom. (Photo by MEGA/GC Images)

Diddy, who is currently awaiting trial in a jail cell, has been charged with racketeering conspiracy and sex trafficking along with a slew of illicit crimes in a federal sex trafficking case.  

Combs, 54, was sent to the Metropolitan Detention Center in Brooklyn on Tuesday — a place that’s been described as "hell on earth" and an "ongoing tragedy." The facility, the only federal jail in New York City, has been plagued by problems since it opened in the 1990s. In recent years, its conditions have been so stark that some judges have refused to send people there. It has also been home to a number of high-profile inmates, including R. Kelly , Ghislaine Maxwell and Michael Cohen .

NYPD vehicles sits outside the Metropolitan Detention Center, February 4, 2019 in the Brooklyn borough of New York City. (Photo by Drew Angerer/Getty Images)

A federal magistrate ordered him jailed without bail as he awaits trial. Combs asked a judge Wednesday if he could wait for his trial from his luxury home on an island near Miami Beach instead of the grim federal jail. He was denied that request .

RELATED: Who was Kim Porter? Diddy's ex - partner, mother of 3, since passed

What are ‘Freak Offs’?

Diddy's arrest and abuse allegations: timeline.

Sean "Diddy" Combs has been arrested by federal authorities in New York after a grand jury indictment, which prosecutors plan to ask a judge to unseal. FOX 5 NY’s Antwan Lewis has more on the rise and fall of "Diddy".

The indictment accuses Combs of presiding over a sordid empire of sexual crimes that used his "power and prestige" for "sex trafficking, forced labor, interstate transportation for purposes of prostitution, drug offenses, kidnapping, arson, bribery and obstruction of justice."

"Freak Offs" were gatherings where Diddy allegedly wielded his power to lure victims into sex acts with male commercial sex workers, ccording to the indictment unsealed Tuesday .

The Bad Boy Records founder is accused of facilitating a network of associates and employees who helped keep victims in line using blackmail like the videos taken during the parties.

Diddy ‘Freak Off’ details

These employees would allegedly be in charge of facilitating the "Freak Offs" by booking hotel rooms.

Associates would allegedly arrange travel for victims, sex workers, and Diddy, in addition to delivering cash to pay the workers, and schedule IV fluid deliveries (used to recover from the parties).

Authorities say these "Freak Offs" would occur regularly, even lasting multiple days. 

LOS ANGELES, CA - JUNE 05: Sean Combs also known as P Diddy is seen on June 05, 2017 in Los Angeles, California. (Photo by PG/Bauer-Griffin/GC Images)

His employees allegedly facilitated "Freak Offs" by handling travel, hotel arrangements, and supplying drugs and baby oil.

They also arranged travel for victims, sex workers, and Combs, resupplied him with necessary items, delivered cash to pay the workers, and scheduled IV fluid deliveries.

Diddy's baby oil 

During the March search of his LA and Miami homes , law enforcement seized narcotics, videos, three AR-15s with defaced serial numbers, and more than 1,000 bottles of baby oil and lubricant they say were "Freak Off" supplies. 

His employees would allegedly ensure that the "Freak Offs" were stocked with baby oil, linens, and lighting.

Could Diddy go to prison?

Diddy's lawyer speaks on charges

Combs’ attorney Marc Agnifilo declared his client’s innocence, and said they would appeal the bail decision, with a hearing expected Wednesday afternoon.

The "Freak Offs," Agnifilo says, were agreed upon prior and not coercive.

"Is it sex trafficking? Not if everybody wants to be there," Agnifilo said,

Prosecutors said in court papers that they had interviewed more than 50 victims and witnesses and expect the number to grow. They said they would use financial, travel and billing records, electronic data and communications and videos of the "Freak Offs" to prove their case.

A conviction on every charge in the indictment would require a mandatory 15 years in prison with the possibility of a life sentence.

Combs and his attorneys denied similar allegations made by others in a string of lawsuits filed over the last few years.

Diddy indictment text 

The Associated Press contributed to this report. 

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What the Fed Rate Cut Will Mean for Five Areas of Your Financial Life

Here’s what the half-point interest rate cut will mean for your car loans, credit cards, mortgages, savings and student loans.

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By Ron Lieber and Tara Siegel Bernard

• Published Sept. 17, 2024 Updated Sept. 18, 2024, 3:22 p.m. ET

The moment consumers have been waiting for is finally here: The Federal Reserve cut its key interest rate by half a percentage point Wednesday.

The rate now stands at about 4.9 percent, and some economists think it could fall another half a percentage point before the end of the year. This number doesn’t translate directly into what you’ll pay if you’re a borrower. If only credit card companies charged so little.

Still, this move should eventually bring interest rates down for many borrowers, even as it is likely to lower the rates that financial institutions pay out to savers.

Here’s what to watch for in five key areas of your financial life, as rates fall now — and hopefully (for borrowers at least) even more in the coming months.

What’s happening now: Auto rates and car prices have been trending lower but they still remain elevated, making affordability a challenge. But dealerships are offering more incentives and discounts to attract buyers, and that’s expected to continue.

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