
Brian M. answered 09/03/21
Practicing Attorney Specializing in First Year Law Curriculum
It means to transfer the rights under the contract to someone else known as the assignee.
Wanda W.
asked 08/30/21Brian M. answered 09/03/21
Practicing Attorney Specializing in First Year Law Curriculum
It means to transfer the rights under the contract to someone else known as the assignee.
A party (the "Assignor") "assigns" his/her purchase contract to another (the Assignee).
A party "conveys" his/her interest in real property to another.
There are a host of words that mean virtually the same thing. For example, Assigns:
Transfers, Delivers, Signs-over,
or, for example, "Conveys":
Deeds, Hands over, Sells, Gifts, Donates, Gives, Devises, Passes on, Quitclaims (as applicable), Alienates, Relinquishes, Grants, Sets over,
Query: Does a Purchase Contract Transferor assign his or her Purchase Contract or his or her interests in the Purchase Contract?
Note: There are seven types of conveyancing instruments. You are expected to know the jargon and understand each in Law School and on the Bar Exam.
Watch out for the "ors" and the "ees"
Thus: transferor/transferee, assignor/assignee, grantor/grantee, devisor/divisee, donor/donee, vendor/vendee, bailor/bailee,
Caution: Compare and contrast a "Mortgagor" and a "Mortgagee". Whose who?
Note: A party who is granted personal property in a Will is a Legatee. A party who is granted real property in a Will is a Devisee.
A take-away: Parties "assign" rights and "transfer" or "delegate" obligations
Here a spot of history may help. At English Common Law, what is "Livery of Seisen"?
Think- Twig and Turf
Think- The grantor is "seised in fee simple".
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