Securing a contract
Assignment of Contract
Also called: Contract Assignment · Assignment of Purchase Agreement
Transferring a buyer’s rights under a purchase contract to a third party for a fee.
What is a assignment of contract?
An assignment of contract transfers the buyer’s equitable interest — their right to purchase the property — to another buyer, usually for an assignment fee. It is the core mechanism of real-estate wholesaling: the wholesaler contracts to buy, then assigns that contract to an end buyer who closes.
Because the wholesaler holds a real equitable interest between contract and assignment, protecting that interest matters. A recorded Memorandum of Contract can secure the position so the seller cannot sell out from under the assignment.
Assignability depends on the contract’s terms; many purchase agreements address or restrict assignment, so the underlying contract controls.
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