Assignment Deals in NY
Question Details: Are Real Estate Assignment/Re-assignment deals legal in NY? ex: I enter a contract with party "A" to buy property listing myself followed by "and/or assigns" on the agreement. I then REassign the property to my investor or party "C" for a profit. The original agreement with party "A" would be completely transparent letting them know my intentions to reassign. Is this practice legal in NY?
Are you an attorney? Sign up to answer this question.
Legal Answers Categories
Real Estate Law Answers
As long as the contract allows you to reassign your rights without the seller's approval. Most contracts in NY do not contain such a clause.
Related Real Estate Questions
Didn't find your answer? Ask.
Top Ranking Attorneys
- Kevin Bessant407 Answers|Points 5850Gold Contributor
- Madan Ahluwalia104 Answers|Points 2900Silver Contributor
- Hong Shen528 Answers|Points 1250Platinum Contributor
- Kenneth Berger25 Answers|Points 1230Bronze Contributor
- Richard Southard76 Answers|Points 1020Silver Contributor
- Glenn M. Lyon, Esq.93 Answers|Points 750Silver Contributor
- Hong Shen528 Answers|Points 26400Platinum Contributor
- Kevin Bessant407 Answers|Points 20330Gold Contributor
- Steven Fromm113 Answers|Points 5430Silver Contributor
- Madan Ahluwalia104 Answers|Points 5170Silver Contributor
- Kelly Broadbent93 Answers|Points 4600Silver Contributor
- Glenn M. Lyon, Esq.93 Answers|Points 4530Silver Contributor
Are you a lawyer?Want to be featured here? Sign up for a free profile and get started today! Click Here