Legal Question in Real Estate Law in New York
assuming a contract from 2nd party
Seeking the word describing in a contract,where the buyer
can flip his contract to another
Asked on 7/19/02, 2:55 pm
2 Answers from Attorneys
Bunji Fromartz
Fromartz Law Offices
Assign, Assignment
Assign or Assignment is the proper term. If the contract has a provision regarding assignment it must be reviewed.
Answered on 7/19/02, 4:20 pm
Robert Kaplan
Robert Kaplan, P.C.
Re: assuming a contract from 2nd party
The term you are looking for is assignment. However most contracts prohibit assignment by Purchaser without consent from Seller.
Answered on 7/19/02, 10:53 pm