Meaning of the word assignee in English

What does assignee mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

assignee

US /əˌsaɪˈniː/
UK /əˌsaɪˈniː/

Noun

a person to whom a right or liability is legally transferred

Example:
The original owner transferred the patent rights to the assignee.
The contract specified that the assignee would be responsible for all future obligations.