Legal Question in Real Estate Law in Georgia

Assignment of Contract Rights

When a completely assignable contract is negoiated with a Seller to purchase a property @ 1000 non-refundable* earnest, is there a law or statute that says the assignor can not request a higher amount such as 2000 from the assignee payable to the assignor? And,is this amount considered as non-refundable?

*except instances where the property title is not transferable within the closing period, providing that assignee has loan packet ready to close on or before the closing date.

I am a consultant for small minority businesses in GA and FL, providing grant writing, business development and technical support to start up businesses.


Asked on 7/20/06, 11:28 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Assignment of Contract Rights

What does the contract say about those issues?

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Answered on 7/21/06, 8:21 am


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