The Arizona Assignment of Real Estate Sales Contract by Purchaser is a legal document that allows a purchaser (also known as the Assignor) of a real estate property in Arizona to transfer their rights and obligations under the original sales contract to a third party (also known as the Assignee). This assignment is often used when the original purchaser is unable or no longer wishes to proceed with the purchase and wants to assign their rights, benefits, and obligations to another party who is willing to take over the contract. With this assignment, the Assignor transfers all their rights, including the right to purchase the property at the agreed-upon price, to the Assignee. The Assignee will be bound by the terms and conditions specified in the original sales contract, and the Assignor will be released from any further obligations and liabilities related to the contract. The Arizona Assignment of Real Estate Sales Contract by Purchaser typically includes the following information: 1. Parties involved: The legal names and contact information of both the Assignor (original purchaser) and Assignee (new party). 2. Original sales contract details: A complete description of the original sales contract, including the date of the contract, the property address, and the names of the original parties involved. 3. Assignment terms: The assignment agreement specifies that the Assignor is transferring all their rights, obligations, and benefits to the Assignee. It also includes any conditions or limitations imposed on the Assignee during the assignment process. 4. Consideration: The agreed amount or consideration paid by the Assignee to the Assignor for the assignment of the real estate sales contract. 5. Governing law: The assignment agreement will state that it is governed by the laws of the state of Arizona. Different types of Arizona Assignment of Real Estate Sales Contract by Purchaser may include additional clauses or terms tailored to address specific situations. Some variations may include assignments with contingency clauses, allowing the Assignor or Assignee to add or modify specific terms before finalizing the assignment. Other types could be assignments solely for investment purposes or assignments tied to specific financing arrangements. Keywords: Arizona, Assignment of Real Estate Sales Contract by Purchaser, legal document, purchaser, Assignor, Assignee, original sales contract, rights and obligations, property, terms and conditions, liabilities, parties involved, assignment terms, consideration, governing law, contingency clauses, specific financing arrangements.
Arizona Assignment of Real Estate Sales Contract by Purchaser
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How to fill out Arizona Assignment Of Real Estate Sales Contract By Purchaser?
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