This form is a contract for a lease and a manadatory purchase of real estate. Seller demises and leases to purchaser and purchaser takes and rents from seller certain real property described in the form. Purchaser agrees not to use or permit the use of the property for an illegal purpose. An auction, fire or going out of business or bankruptcy sale, may not be conducted in the property without prior written consent of the seller.
Assignment Clause Real Estate For Sale In Santa Clara
State:
Multi-State
County:
Santa Clara
Control #:
US-00120
Format:
Word;
Rich Text
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FAQ
Non-assignable . We acknowledge that we are not permitted to assign this agreement, nor any benefits or obligations arising from it, to a third party without obtaining your prior written approval. Such approval remains at your absolute discretion and may be withheld for any reason.
Definition. A no-assignment clause is a provision in a contract that prohibits the assignment of the contract or any portion of the contract.
The absence of an assignment clause in an agreement would often mean that a party is allowed to assign its benefit under the contract without the consent of the other party.
The absence of an assignment clause in an agreement would often mean that a party is allowed to assign its benefit under the contract without the consent of the other party. Where assignment clauses require consent of the other party, this consent should not be unreasonably withheld.
As a general rule, then, contracts interpreted under California law may be assigned; however, to be effective, there must be evidence that the assignor (the party assigning the contract) intended to transfer the assignor's title or ownership of the rights and obligations under the contract to the assignee (the party ...
If the contract contains no means of termination without penalties, the best option is often to negotiate with the other party. Making a good-faith effort to negotiate with the other party is often a better option than simply refusing to comply with the terms of the agreement.
No Party shall assign this Agreement or any part hereof without the prior written consent of the other Parties. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties Parties, and their respective permitted successors and assigns.