We have breaking news regarding assigning contracts that you won’t want to miss. In recent state-level developments, certain states are implementing new regulations around contract assignments, potentially requiring a license in order to proceed.
Watch the video below to understand the changing landscape and ensure your real estate investing activities are in full compliance with state laws. Remember, ignorance of these requirements can lead to costly consequences, so it’s essential to stay informed and take appropriate action!
“Contract Assignment: The seller acknowledges and agrees that the buyer is purchasing the rights, benefits, and obligations of the existing contract for the property located at [property address], and not the property itself. The seller agrees to assign and transfer all rights and interests in the contract to the buyer upon execution of this agreement. The buyer assumes all responsibilities and liabilities associated with the contract, including but not limited to the performance and completion of any terms, conditions, and obligations stated in the contract.”
Thanks for this valuable additional clause. It’s great to know that Ron is keeping us up to date with important info!