Assignment of Option to purchase real estate
An Assignment is the transfer of a person’s rights or property to another. By using this form, a person who holds an Option to purchase a certain property (the Assignor) transfers that right to another (the Assignee). The Assignee thus obtains the same rights as the Assignor had in the property.
*Before completing this form, confirm that the Assignor has the right to assign his/her rights in the property. This is generally mentioned in the Option Agreement between the Assignor and the owner of the property.
Parties to this document
Assignor: has the right to purchase a certain property for a certain amount of time as per an Option Agreement
Assignee: is being transferred the Option
When to use this agreement?
For commercial or residential properties.
Before completing this form, please collect the following information:
- Name and address of Assignor and Assignee
- Name of Assignor or Assignee’s representative (if any)
- Address of the property
- Price to be paid for this Assignment and when it should be paid (on a certain date or with the signature of this Assignment)
Specifications of this Notice
Attach a copy of the Option Agreement under Schedule A of this document.
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