Below is a template for an Assignment of Real Estate Purchase and Sale Agreement.

CRITICAL DISCLAIMER: REISkills.com is  not an attorney. This is a general template for educational purposes only and may not be suitable for your specific situation or compliant with your state’s laws. Real estate contracts have significant legal and financial consequences. You MUST consult with a qualified real estate attorney in your state before using any legal document.

ASSIGNMENT OF REAL ESTATE PURCHASE AND SALE AGREEMENT

1. PARTIES: This Assignment of Real Estate Purchase and Sale Agreement (“Assignment”) is made and entered into as of this ______ day of ______________, 20(“Effective Date”), by and between:

Assignor: _________________________________________________________________
(Hereinafter “Assignor”)
Address: ____________________________________________________________________
Email: _____________________________ Phone: _______________________________

Assignee: _________________________________________________________________
(Hereinafter “Assignee”)
Address: ____________________________________________________________________
Email: _____________________________ Phone: _______________________________

2. ORIGINAL CONTRACT: This Assignment pertains to that certain Real Estate Purchase and Sale Agreement (“Original Contract”) dated _______, 20, between **__________________________________** (“Original Seller”) as Seller, and **______________________________________** (“Assignor”) as Buyer.
3. PROPERTY: The Original Contract is for the purchase of the real property located at:
   _________________________________________________________________________
   (Legal Description)
   _________________________________________________________________________
   (Street Address)
   _________________________________________________________________________
   (City, State, Zip Code)
   County of ___________________________, Parcel ID/Tax ID #: _____________________
   (Hereinafter the “Property”)
4. ASSIGNMENT: For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Assignor hereby assigns, transfers, and sets over unto the Assignee, its successors and assigns, all of the Assignor’s right, title, and interest in and to the Original Contract, subject to all the terms, conditions, and obligations therein.
5. ASSIGNMENT FEE:As consideration for this Assignment, the Assignee agrees to pay the Assignor an assignment fee of $__________________(the “Assignment Fee”). The Assignment Fee shall be paid as follows:
   [ ] At Closing: The Assignment Fee shall be paid from the closing agent/settlement company at the time of the closing of the sale of the Property from the Original Seller to the Assignee. The Assignee hereby irrevocably directs the closing agent to disburse said fee directly to the Assignor from the Assignee’s proceeds.
   [ ] Other (Specify): _________________________________________________________
6. ASSIGNEE’S OBLIGATIONS: The Assignee hereby assumes and agrees to perform all of the Assignor’s obligations under the Original Contract from the Effective Date forward, including but not limited to the obligation to purchase the Property at the price and upon the terms set forth in the Original Contract. The Assignee represents that they have read, understand, and agree to be bound by all terms and conditions of the Original Contract.
7. ASSIGNOR’S STATUS: The Assignor shall remain secondarily liable for the performance of the Original Contract unless a novation is executed by all parties. The Assignor acts solely as an assignor of its rights and makes no warranties or representations, express or implied, regarding the Property, its condition, or its value.
8. CLOSING: The parties agree that the transaction shall close with the Assignee being named as the purchaser/Buyer on the settlement statement. The Assignee shall be responsible for all closing costs associated with their purchase of the Property as stipulated in the Original Contract.
9. INDEMNIFICATION: The Assignee agrees to indemnify, defend, and hold the Assignor harmless from and against any and all claims, damages, losses, liabilities, and expenses (including reasonable attorney’s fees) arising out of or related to the Assignee’s failure to perform the obligations of the Buyer under the Original Contract from the Effective Date forward.
10. DISPUTE RESOLUTION: Any dispute arising under this Assignment shall be settled by binding arbitration in the county where the Property is located, in accordance with the rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
11. GOVERNING LAW: This Assignment shall be governed by and construed in accordance with the laws of the State of _______________.
12. ENTIRE AGREEMENT: This Assignment constitutes the entire agreement between the parties and supersedes all prior discussions, negotiations, and agreements, whether oral or written. This Assignment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Electronic or facsimile signatures shall be deemed original signatures for all purposes.

IN WITNESS WHEREOF, the parties have executed this Assignment as of the Effective Date.

ASSIGNOR:

(Signature)

(Printed Name)

ASSIGNEE:

(Signature)

(Printed Name)

ACKNOWLEDGEMENT OF ASSIGNMENT BY SELLER

The undersigned, the “Seller” under the Original Contract, hereby acknowledges and consents to the foregoing Assignment. Seller agrees to look solely to Assignee for performance of the Buyer’s obligations under the Original Contract from the date hereof. This acknowledgement does not release the Assignor from its obligations under the Original Contract unless specifically agreed to in a separate novation agreement.

ORIGINAL SELLER:

(Signature)

(Printed Name)

Date: ____________________________________

How to Use This Template:

1. 1. Fill in ALL Blanks: Ensure every blank line is completed accurately, especially the legal description of the property.
   2. Attach the Original Contract: Always attach a copy of the fully executed (signed by both seller and assignor) Original Contract to this Assignment agreement.
   3. Get the Seller’s Acknowledgement (CRITICAL): While an assignment clause in your original purchase contract may give you the right to assign, getting the seller’s signature on the “Acknowledgement” section is a best practice. It prevents future disputes and confirms they know who they are selling to.

• Consult a Lawyer: Again, have a local real estate attorney review this document and the entire process to ensure it is legally sound in your jurisdiction.