FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are acknowledged, the undersigned (“Assignor”) hereby assigns to (“Assignee”), whose address is , all of Assignor’s right, title and interest in and to the Contract to Sell Real Estate dated , 20 between , as Seller, and Assignor, as Buyer, as modified by [describe amendments, if any, or insert “no modifications”] (collectively, the “Purchase Agreement”), including but not limited to any right Assignor might otherwise have or acquire to return of any earnest money deposited by Assignor.
Assignor represents and warrants to Assignee that (1) Exhibit A attached to this Assignment is a true and complete copy of the Purchase Agreement, (2) the Purchase Agreement is in full force and effect and has not been modified in any way (other than by any amendment or modification referred to in the definition of Purchase Agreement above), (3) Assignor’s interest in the Purchase Agreement is free and clear of any prior assignment and of any lien or security interest, (4) Assignor has good right and lawful authority to execute and deliver this Assignment and to assign to Assignee all of Assignor’s interest in the Purchase Agreement, and (5) no party to the Purchase Agreement is presently in default with respect to the performance of such party’s obligations under the Purchase Agreement.
By accepting this Assignment, Assignee assumes and agrees to perform all of the obligations of the Buyer under the Purchase Agreement, including but not limited to any obligations to be performed after closing thereunder, and to indemnify Assignor against any loss, claim, damage or expense Assignor may incur by reason of Assignee’s failure to perform the assumed obligations on a timely basis.
Signed and delivered as of , 20 .
[If individual Assignor] Name: Name:
[If Assignor is an entity]
The foregoing instrument was acknowledged before me this day of
My commission expires
Witness my hand and official seal.
ASSIGNMENT OF CONTRACT TO SELL REAL ESTATE
[Attach copy of Purchase Agreement, including any modifications]