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(a) The parties to a contract may agree on the transfer from one party (the "transferor") to another person (the "transferee") of the transferor's rights and obligations arising out of the contract with the person remaining a party to that contract (the "other party").
One example of this is when a property owner gives someone an easement to get to another piece of property. Transferring ownership entirely is another option, and it means giving up all basic rights, such as the right of possession, usage, and exclusion.
Examples may be a transfer between former spouses during/after divorce, a gift of property from one to another, or a transaction where the parties are familiar with each other, do not require a closing, mortgage payoff, title insurance, etc., and just need the legal documentation to evidence the transfer, choosing to ...
How to write a letter of agreement Title the document. Add the title at the top of the document. ... List your personal information. ... Include the date. ... Add the recipient's personal information. ... Address the recipient. ... Write an introduction paragraph. ... Write your body. ... Conclude the letter.
The agreement document will need to be able to identify which party has what role. This means you will need to provide the complete names of the people who are involved and you must also place which of them is the person who owns the property that is being transferred and which of them is to receive it.