Assignment of Agreement of Purchase and Sale
An assignment of purchase and sale is when the original buyer (assignor) of a property decides to hand over their contract to a new buyer (assignee.)
In real estate transactions, the assignment of purchase and sale can happen for preconstruction and/or resale of the property. There are many reasons as to why an assignor may want to hand over their contract to a new assignee; marriage, illness, moving to a new country etc.
It is important to note that when the assignee is buying the contract (indicating their “right” to a property) through a third-partyー not directly through the assignor.
THE ADVANTAGE OF RETAINING A LAWYER
At Pace Law real estate, our team of real estate lawyers will help you draft a successful assignment agreement to ensure a seamless transaction process. Our dedicated team of real estate lawyers ensure our clients receive top quality service and reach the desired outcome- with their best interests in mind. No real estate issue is too big or small for our team of legal professionals, contact Pace law real estate for the best legal counsel in town.