They include a place for both the person who transmits the interest (called the asssignor) and the person who receives the interest (called the Assignee) to execute the document. The Membership Interest Assignment LLC is used when a member wishes to transfer ownership to an LLC. It can also be used if a person wants this interest to be transferred to them, provided that the current member agrees. Both parties should understand that members` interests are being reallocated. Both parties should keep a copy of the agreement. This form requires signatures from the party receiving the document and the party assigning the interest. If there are only two members, which means that there is only one left after the transfer, the transmission process is simple.. . .