Transfer Law and Legal Definition
Generally Transfer means to convey or remove from one place or one person to another. In law, it means
- Any mode of disposing of or parting with an asset or interest in an asset. This can include a gift, payment of money, release, lease, creation of a lien or other encumbrance.
- Negotiation of an instrument according to the forms of law. The four methods of transfer are by indorsement, by delivery, by assignment or by operation of law.
- Conveyance of property or title from one person to another.
Transfer is defined as "any mode of disposing of, or parting with, an asset or an interest in an asset." Bus. Edge Group, Inc. v. Champion Mortg. Co., 519 F.3d 150, 154 (3d Cir. N.J. 2008) In another case, transfer is judicially defined as "every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payments of money, release, lease and creation of a lien or other encumbrance." Compuware Corp. v. Innovatec Communs., LLC, 2005 U.S. Dist. LEXIS 45621, 26-27 (E.D. Wis. Aug. 24, 2005)
