assignment / cession
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assignment / cession
(Law/finance) The contractual transfer of a claim, right, or entitlement from one creditor (assignor) to a new creditor (assignee).
Die Bank verlangte die Abtretung seiner zukünftigen Gehaltsansprüche als Sicherheit für den Kredit.
The bank required the assignment of his future salary claims as security for the loan.
'Abtretung' (assignment/cession) is the nominalization of the separable verb 'abtreten' (to cede/hand over). The verb literally means 'to step away' and, figuratively, 'to hand something over' or 'to give something up'. The ending '-ung' makes the word feminine.
Der Minister musste sein Amt an seinen Nachfolger abtreten.
The minister had to hand over his office to his successor.
The word 'Abtretung' (assignment/cession) is used almost exclusively in specialized language, especially in law and finance as well as in politics and historical writing.
Der Vertrag enthält eine Klausel zur Abtretung von Lizenzrechten.
The contract contains a clause on the assignment of licensing rights.
To describe what is being assigned or ceded, German often uses 'von' + dative or the genitive. The recipient is indicated with the preposition 'an' + accusative.
Die Abtretung der Provinz an den Nachbarstaat wurde im Vertrag festgelegt.
The cession of the province to the neighboring state was stipulated in the treaty.
You can tell from the context whether it is about finances or territories. Words like 'Forderung' (claim), 'Recht' (right), or 'Sicherheit' (security) point to the legal meaning, while 'Gebiet' (territory), 'Staat' (state), or 'Grenze' (border) point to the political meaning.
Die Abtretung der Forderung war eine Bedingung für den Kredit.
The assignment of the claim was a condition for the loan.
transmission / transfer
'die Übertragung' and 'die Abtretung' can both mean that something officially passes from one person or organization to another. However, 'die Übertragung' is more general and fits rights, possession, tasks, or responsibilities. 'die Abtretung' is narrower and sounds legal or financial. It especially means that a claim, an entitlement, or even a territory is transferred by contract to someone else. Learners may confuse the words because in both cases something is given up or handed over. As a practical rule: in contracts involving claims or entitlements, 'Abtretung' is more precise; in more general formal situations, 'Übertragung' often fits.
Die Abtretung der Forderung an die Bank steht im Vertrag.
The assignment of the claim to the bank is stated in the contract.
Die Übertragung der Aufgaben an das neue Team beginnt nächste Woche.
The transfer of the tasks to the new team begins next week.