Seamless Closings, Peace of Mind: Your Trusted Residential Assignment Lawyer
An assignment occurs when the purchaser of a property assigns their interest in the property to another person prior to taking possession. The assignment must be in writing and signed by the assignor, assignee, and the builder. Assignments are common in new construction real estate transactions.
An assignment transaction is complicated as there are often three parties involved: the assignor, the assignee, and the builder. It is important to have a real estate lawyer review the assignment agreement to make sure that it is in your best interest and that all your rights are protected. The real estate lawyer will also liaise with the other parties’ lawyer along with the builder’s lawyer to ensure a smooth transaction.
An assignment agreement can trigger a number of implications for the parties involved. As such, it is important to seek legal advice prior to entering into an assignment agreement.
If you are thinking about assigning your interest in a property, contact one of our real estate lawyers to discuss your options.
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