Florida Statutes 727.104 – Commencement of proceedings
Terms Used In Florida Statutes 727.104
- Asset: means a legal or equitable interest of the assignor in property, which includes anything that may be the subject of ownership, whether real or personal, tangible or intangible, including claims and causes of action, whether arising by contract or in tort, wherever located, and by whomever held at the date of the assignment, except property exempt by law from forced sale. See Florida Statutes 727.103
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Assignee: means a natural person solely in such person's capacity as an assignee for the benefit of creditors under the provisions of this chapter, which assignee shall not be a creditor or an equity security holder or have any interest adverse to the interest of the estate. See Florida Statutes 727.103
- Assignment: means an assignment for the benefit of creditors made under this chapter. See Florida Statutes 727.103
- Assignor: means the person or entity that has executed and delivered the assignment to the assignee. See Florida Statutes 727.103
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Court: means the circuit court where the petition is filed in accordance with…. See Florida Statutes 727.103
- Estate: means all of the assets of the assignor. See Florida Statutes 727.103
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Liquidation value: means the value in cash obtainable upon a forced sale of assets after payment of valid liens encumbering said assets. See Florida Statutes 727.103
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Oath: A promise to tell the truth.
- oath: includes affirmations. See Florida Statutes 1.01
- Petition: means the initial document filed with the court, as set forth in…. See Florida Statutes 727.103
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01
ASSIGNMENT
ASSIGNMENT, made this   day of  ,   (year)  , between  , with a principal place of business at  , hereinafter “assignor,” and  , whose address is  , hereinafter “assignee.”
WHEREAS, the assignor has been engaged in the business of   ;
WHEREAS, the assignor is indebted to creditors, as set forth in Schedule A annexed hereto, is unable to pay its debts as they become due, and is desirous of providing for the payment of its debts, so far as it is possible by an assignment of all of its assets for that purpose.
NOW, THEREFORE, the assignor, in consideration of the assignee’s acceptance of this assignment, and for other good and valuable consideration, hereby grants, assigns, conveys, transfers, and sets over, unto the assignee, her or his successors and assigns, all of its assets, except such assets as are exempt by law from levy and sale under an execution, including, but not limited to, all real property, fixtures, goods, stock, inventory, equipment, furniture, furnishings, accounts receivable, bank deposits, cash, promissory notes, cash value and proceeds of insurance policies, claims and demands belonging to the assignor, and all books, records, and electronic data pertaining to all such assets, wherever such assets may be located, hereinafter the “estate,” as which assets are, to the best knowledge and belief of the assignor, set forth on Schedule B annexed hereto.
The assignee shall take possession of, and protect and preserve, all such assets and administer the estate in accordance with the provisions of chapter 727, Florida Statutes, and shall liquidate the assets of the estate with reasonable dispatch and convert the estate into money, collect all claims and demands hereby assigned as may be collectible, and pay and discharge all reasonable expenses, costs, and disbursements in connection with the execution and administration of this assignment from the proceeds of such liquidations and collections.
The assignee shall then pay and discharge in full, to the extent that funds are available in the estate after payment of administrative expenses, costs, and disbursements, all of the debts and liabilities now due from the assignor, including interest on such debts and liabilities. If funds of the estate shall not be sufficient to pay such debts and liabilities in full, then the assignee shall pay from funds of the estate such debts and liabilities, on a pro rata basis and in proportion to their priority as set forth in s. 727.114, Florida Statutes.
If all debts and liabilities are paid in full, any funds of the estate remaining shall be returned to the assignor.
To accomplish the purposes of this assignment, the assignor hereby appoints the assignee its true and lawful attorney, irrevocable, with full power and authority to do all acts and things which may be necessary to execute the assignment hereby created; to demand and recover from all persons all assets of the estate; to sue for the recovery of such assets; to execute, acknowledge, and deliver all necessary deeds, instruments, and conveyances; and to appoint one or more attorneys under her or him to assist the assignee in carrying out her or his duties hereunder.
The assignor hereby authorizes the assignee to sign the name of the assignor to any check, draft, promissory note, or other instrument in writing which is payable to the order of the assignor, or to sign the name of the assignor to any instrument in writing, whenever it shall be necessary to do so, to carry out the purpose of this assignment.
The assignee hereby accepts the trust created by the assignment, and agrees with the assignor that the assignee will faithfully and without delay carry out her or his duties under the assignment.
|   |     Assignor |
|   |     Assignee |
STATE OF FLORIDA
COUNTY OF   
The foregoing assignment was acknowledged before me this   day of  ,   (year)  , by  , as assignor, and by  , as assignee, for the purposes therein expressed.
  (Signature of Notary Public – State of Florida)  
  (Print, Type, or Stamp Commissioned Name of Notary Public)  
Personally Known   OR Produced Identification  
Type of Identification Produced   
SCHEDULE A–CREDITOR LIST
| 1. List all secured creditors showing: | ||||
| Name | Address | Amount | Collateral | Whether or not disputed |
| 2. List all wages owed showing: | ||||
| Name | Address | Amount |   | Whether or not disputed |
| 3. Consumer deposits: | ||||
| Name | Address | Amount |   | Whether or not disputed |
| 4. List all taxes owed showing: | ||||
| Name | Address | Amount |   | Whether or not disputed |
| 5. List all unsecured claims showing: | ||||
| Name | Address | Amount |   | Whether or not disputed |
| 6. List all owners or shareholders showing: | ||||
| Name | Address |   | Percent of Ownership | |
| 7. List all pending litigation and opposing counsel of record: | ||||
| Style | Parties | Opposing Counsel of Record | ||
SCHEDULE B–LIST OF ASSETS
List each category of assets and for each give approximate value obtainable for the asset on the date of assignment, and address where asset is located.
I. Nonexempt Property
| Description and Location |
Liquidation Value at Date of Assignment |
1. Legal description and street address of real estate, including leasehold interests:
2. Fixtures:
3. Cash and bank accounts:
4. Inventory:
5. Accounts receivable:
6. Equipment:
7. Prepaid expenses, including deposits, insurance, rents, and utilities:
8. Other, including loans to third parties, claims, and choses in action:
II. Exempt Property
| Description and Location |
Liquidation Value at Date of Assignment |
VERIFICATION OF ASSIGNMENT
AND SCHEDULES BY ASSIGNOR
The undersigned,   (name)  ,   (position with assignor)   of   (assignor)  , hereby verifies the Assignment of all of its rights, title, and interest in and to all of its assets, as indicated on the attached Schedules to that Assignment as filed with this Court on   (date)  , and further verifies each of the facts set forth in the Schedules annexed to the Assignment to the best of my knowledge and belief.
      
Name, Position with Assignor
STATE OF FLORIDA
COUNTY OF   
Sworn to and subscribed before me this   day of  ,   (year)  .
  (Signature of Notary Public – State of Florida)  
  (Print, Type, or Stamp Commissioned Name of Notary Public)  
Personally Known   OR Produced Identification  
Type of Identification Produced   
ACCEPTANCE BY ASSIGNEE
The undersigned,   (assignee)  , the Assignee herein, duly acknowledges that the Assignee accepts delivery of the assignment and that he or she will duly perform the duties imposed upon the Assignee pursuant to chapter 727, Florida Statutes.
     
Assignee
STATE OF FLORIDA
COUNTY OF   
Sworn to and subscribed before me this   day of  ,   (year)  .
  (Signature of Notary Public – State of Florida)  
  (Print, Type, or Stamp Commissioned Name of Notary Public)  
Personally Known   OR Produced Identification  
Type of Identification Produced