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Q: REAL ESTATE CONTRACT ASSIGNMENT LETTER ( Answered,   1 Comment )
Question  
Subject: REAL ESTATE CONTRACT ASSIGNMENT LETTER
Category: Business and Money > Finance
Asked by: snow0906-ga
List Price: $20.00
Posted: 15 Oct 2002 06:55 PDT
Expires: 14 Nov 2002 05:55 PST
Question ID: 76774
I NEED TO WRITE AN ASSIGNMENT LETTER FOR A CONTRACT OF SALE IN REAL ESTATE
THE REAL ESTATE CONTRACT WHICH WAS SIGNED BY THE ORIGINAL BUYER.....THEY
ARE ASSIGNING THE CONTRACT OVER TO ANOTHER BUYER......AND I DON'T KNOW HOW
TO WRTIE THIS UP......I NEED IT AS SOON AS POSSIBLE

IF YOU NEED ANYMORE INFO, PLEASE CONTACT ME 

THANK YOU

SNOW0906
Answer  
Subject: Re: REAL ESTATE CONTRACT ASSIGNMENT LETTER
Answered By: darrel-ga on 15 Oct 2002 07:32 PDT
 
Hello--

I have the answer to your question.

I paid for and downloaded the form for you. Below is the form.

ASSIGNMENT OF MORTGAGE
For and in consideration of Dollars
($ ), the receipt of which is hereby acknowledged,
of , hereby grants, assigns and transfers
to , of ,
that certain mortgage executed by , dated ,
(year), and recorded in the office of the of
County, State of , in Book of Mortgage, at page ,
together with the note described therein and the money to become due
thereon with the interest
provided therein.
IN WITNESS WHEREOF, the undersigned has executed this assignment on ,
(year).
___________________________________
___________________________________
Witness First Party (Assignor)
___________________________________
___________________________________
Witness Second Party (Assignee)
STATE OF } COUNTY OF
On before me, , personally appeared
, personally known to me (or
proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s) is/are subscribed to
the within instrument and acknowledged to me that he/she/they executed
the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on
the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the
instrument.
WITNESS my hand and official seal.
Signature___________________________
Affiant _____Known _____Unknown
ID Produced________________________
(Seal)
ZZAAZAAB


The link to the site where I purchased this form is
http://www.e-zlegal.com/Category/CAT.realestate.html

To conduct this research, I used the following terms: "assignment
letter" "real estate."

I hope this helps!

darrel-ga
Comments  
Subject: Re: REAL ESTATE CONTRACT ASSIGNMENT LETTER
From: weisstho-ga on 15 Oct 2002 08:07 PDT
 
Dear Snow, 

With respect to Darrel's excellent work, you may want to consider the
following forms for an assignment of a contract (as opposed to an
assignment of a mortgage):

CONSENT TO ASSIGNMENT 

[First alternative: General consent to assignment of contract ] 

I, _________________ [name of consenting party ], hereby consent to
the assignment to _________________ [name of assignee ] of the
contract dated _________________ [date ], between _________________
[name of assignor ] and myself concerning _________________ [specify
subject matter of contract with sufficient particularity so as to
identify it ].
  
Dated _________________. 

_________________ [signature of consenting party ] 
[typed name ] 

[Second alternative: General consent to assignment of contract where
consideration has been given to consenting party ]

In consideration of $ _________________, receipt of which is hereby
acknowledged, I, _________________ [name of consenting party ], hereby
consent to the assignment of the contract dated _________________
[date ], between _________________ [name of assignor ] and myself on
_________________ [specify subject matter of contract with sufficient
particularity so as to identify it ].
  
Dated _________________. 

_________________ [signature of consenting party ] 
[typed name ] 

[Third alternative: Consent to assignment and delegation of duties ] 

I, _________________ [name of consenting party ], hereby consent to
the assignment and delegation to _________________ [name of assignee ]
of the duties of performance under the contract dated
_________________ [date ], between _________________ [name of assignor
] and myself concerning _________________ [specify subject matter of
contract with sufficient particularity so as to identify it ].

[If the assignor is to be released from liability for further
performance, add: ] I agree to look solely to _________________[name
of assignee ] for the proper performance of the contract.
  
Dated _________________. 

_________________ [signature of consenting party ] 
[typed name ] 

[Fourth alternative: Consent by endorsement ] 

I, _________________ [name of consenting party ], hereby consent to
the foregoing assignment.

[OR ] 

I, _________________ [name of consenting party ], hereby consent to
the foregoing assignment of _________________ [specify, e.g., money
due or to become due to _________________ (name of assignor )].
  
Dated _________________. 

_________________ [signature of consenting party ] 
[typed name ] 

[Fifth alternative: Consent to partial assignment of contract ] 

I, _________________ [name of obligor ], hereby consent to the
assignment of _________________ [specify partial amount assigned,
e.g., one-half or 40 percent or $ 100] of the money due or to become
due to _________________ [name of assignor ] under the contract dated
_________________, between _________________ [name of assignor ] and
myself concerning _________________[specify subject matter of contract
].
  
Dated _________________. 

_________________ [signature of consenting party ] 
[typed name ] 

[Sixth alternative: Consent by endorsement to partial assignment ] 

I hereby consent to the above assignment of _________________ [specify
partial amount assigned, e.g., one-half or $ 100] of the money due or
to become due under the above-mentioned contract.
  
Dated _________________. 

_________________ [signature of consenting party ] 
[typed name ] 
               



You really should run this past an attorney in your jurisdiction.  It
would be very unusual to NOT have a prohibition against assignment in
the purchase agreement. Further, a couple of bucks spent on the front
end could prevent a very, very expensive action to compel specific
performance down the line if the seller balks at the assignment.

Best of luck,

weisstho-ga

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