OfflineI had found this contract for assignments through the web. I thought this may help others in understanding the assignment process.
Sample Assignment of Real Estate Purchase Agreement
This agreement is made this ¬¬¬¬¬____ day of _____2008 between ____________, known hereinafter as the Assignor, and __________, known hereinafter as the Assignee. Assignor and Assignee hereby agree as follows:
In return for the consideration set forth in this agreement, Assignor hereby assigns, sells, and transfers all of Assignor’s title and interest in and rights under the attached agreement entitled, “Purchase Agreement” dated ________, _______, 2008, hereinafter referred to as the "Agreement," executed by __________ as Seller and by __________ as Buyer, for the purchase of said property known as Address, City, State, Zip, and legally described as Lot ___, Block __ of the _________Subdivision, according to map or plat thereof, as recorded in Plat Book ___, Page ___, of the public records of Name of County & State.
By accepting this assignment, Assignee agrees to undertake and perform the obligations imposed on Assignor, as buyer, under the aforementioned Agreement. Assignee accepts this assignment subject to all terms and conditions contained in the Agreement, or imposed by law. A copy of the Agreement is attached hereto as Exhibit "A" and incorporated herein as if fully set forth herein.
It is hereby agreed that the obligations of both Assignor and Assignee, hereunder, are not contingent upon the recordation of a deed, or other completion of the purchase of the property, under the Agreement. It is the sole responsibility of Assignee to seek legal or other relief, in the event that the agreement is not performed, as a result of the act or omission of any other party to the Agreement.
In return for the rights assigned by Assignor herein, Assignee hereby agrees to pay Assignor the sum of five thousand five hundred dollars.
All of the provisions of this assignment of purchase agreement shall extend to, bind, and inure to the benefit of heirs, executors, personal representatives, successors, and assigns of Assignor and Assignee.
IN WITNESS WHEREOF, Assignor and Assignee have set their hands the date aforesaid.
____________ ___________
Assignor Assignee
____________ ___________
Witness Witness
"ALWAYS THINKING OUTSIDE OF THE BOX"
thanks madison for posting it.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
No, problem, I feel I should also be "giving" not only taking. I have found some great "stuff":) which I feel would be most beneficial not only to the "newbies" like myself but also the "top dogs"
"ALWAYS THINKING OUTSIDE OF THE BOX"
I have some other forms and docs that may also be helpful. Once I put them together, I will post them also.
"ALWAYS THINKING OUTSIDE OF THE BOX"
Has anyone used one similar to this one? Just wondering.
"ALWAYS THINKING OUTSIDE OF THE BOX"
Is the assighning agreement what you will use to make sure you get paid from the invester or is there another paper thank .
This would be the binding contract that will ensure you that you will be paid. It should be submitted with the purchase and sales agreement, to the title co. You should be paid on the day of closing.
"ALWAYS THINKING OUTSIDE OF THE BOX"
Agreement to Sell Personal Property
PURCHASE AND SALES AGREEMENT made by and between ____________________________________________________________________________
Legal Description: _____________________________________________________________
This agreement is made between ______________ (ASSIGNOR) and ________________ (ASSIGNEE) regarding purchase of above referenced SUBJECT PROPERTY.
Whereas ______________ (BUYER) has entered into a Purchase and Sales Agreement with ______________ (SELLER) for the purchase of SUBJECT PROPERTY, and whereas BUYER wishes to assign its rights, interests and obligations in the Purchase and Sales Agreement, it is hereby agreed between ASSIGNOR and ASSIGNEE as follows:
1. ASSIGNEE shall pay ASSIGNOR a NON-REFUNDABLE assignment fee of $__________ (payable with signing of contract and balance at close).
2. Assignee’s inspection period shall expire upon execution of this Assignment. ASSIGNEE accepts all terms and conditions of the contract for Sale and Purchase between BUYER and SELLER in its entirety.
3. ASSIGNEE acknowledges receipt of legible copies of the original Contract for Sale and Purchase in its entirety including all Addendums associated with this transaction.
4. Additional terms and conditions of this Assignment are as follows: -This assignment contract is non-assignable without the express written consent of the ASSIGNOR.
- No changes to the Purchase Contract can be made without written Consent of _______________.
5. Disclosures and Acknowledgement:
a) ASSIGNOR and affiliated associates make no warranty, expressed or implied, regarding inspection reports or other reports provided to ASSIGNEE by ASSIGNOR or third parties concerning this property.
b) ASSIGNEE acknowledges they are conducting a transaction dealing directly with ASSIGNOR for the purchase of SUBJECT PROPERTY. ASSIGNEE is not relying upon or being represented by a REAL ESTATE BROKERAGE in this transaction.
AGREED AND ACCEPTED
ASSIGNOR
Signature:__________________________________________ Dated:__________________
Print Name:_________________________________________________________________________
ASSIGNEE(____________________________________________________________________________)
Signature:___________________________________________ Dated:_________________
Print Name:_________________________________________________________________________
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
thanks for all the blessing that was bestowed upon us all!! you guys put in alot of efforts into making and building not only our cash flow but also all that is good, to prosper and to grow.. my question to the( P.A.)purshase agreedment. is the term "subject to " means anything in a contracts? such as subject to apprpval from my partners,upon inspection,etc.. is this use also as and escape clause??? please enlighten me!!! by the way have a great and blesed Thanksgiven Day!!!
to push the limits of limitation
thanks for the information im new to this but im really motivated to make it happen