I 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.
"ALWAYS THINKING OUTSIDE OF THE BOX"