ContractsQuestion 65 of 120
An assignment of a contract typically transfers:
a.Only obligations, never rights
b.Title to the real estate immediately
c.The assignor's rights under the contract to a third party
d.Ownership of the brokerage firm
Explanation
An assignment transfers the assignor's contractual rights to an assignee, who may then enforce them, subject to any anti-assignment terms. Unlike novation, an assignment may not release the original party from liability.
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