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Assignment and Assumption of Purchase and Sale Agreement (Commercial Real Estate Purchase and Sale) A Standard Document that may be used when the purchaser under a purchase and sale agreement transfers its interest in the agreement to an affiliated entity.
Assignment contracts don't involve transferring or selling the property directly like a purchase agreement. Instead, the buyer under the original purchase agreement (the assignor) assigns their rights and obligations under the purchase agreement to the assignee, sometimes for a profit.
An assignment and assumption agreement is used after a contract is signed, in order to transfer one of the contracting party's rights and obligations to a third party who was not originally a party to the contract.
Also called an assignment and assumption. An agreement in which one party transfers its contractual rights and obligations to another party.
Assignment and assumption agreements are analogous to bills of sale, except they effect the transfer of contracts, permits and similar assets by the seller to the buyer in an asset purchase transaction.
Data Transfer Agreement Agreement established between organisations that governs the transfer of one or more data sets from the owner/provider to a third party.