Assignment Of Contract Question
Hello everybody,
When I sign a perchase contract with my seller that has a provision that it may be assigned and then use an assignment of contract with my new buyer to give them the contract how do I stop them from assigning it to someone else? Would we have to sign a new one with the assignment provision not in there? Help please?
why would that concern you? once you assign the contract, you are no longer involved in the process....
Prosperous investing,
td
because most of the time you will not get your assignment fee until closing. What if they assign it to someone else now they have to pay them and assignment fee and then my assignment fee?
You simply need a clause in your contract that says" This contract is not assignable without assignor's written consent ...". I would have the attorney make it bullet-proof.
Hrash,
You make a valid point. That clause would solve that problem. Thanks.
Prosperous investing,
td
Yes that probably would do the trick. Thanks for all the help.