Assignment & nomination
A buyer may transfer the contractual position when the agreement allows it. Assignment does not automatically release the original buyer.
Plain-language rule
A buyer may transfer the contractual position when the agreement allows it. Assignment does not automatically release the original buyer.
Why this exists
Assignment creates flexibility while protecting the seller from an unexpected change in who must perform.
What if?
Common situations and the decision each one introduces.
- 1
Buyer assigns to wholly owned LLC
Allowed when the agreement permits it; document the relationship and capacity.
- 2
Buyer assigns to another investor
Evaluate consent, qualification, notice, and continuing original-buyer liability.
- 3
Assignee is financed
Confirm lender approval and the assignee's ability to perform before consent.
- 4
Original buyer wants release
A release is separate from assignment and requires express written agreement.