Posted by John Merchant on June 01, 2008 at 19:31:36:
RE “rights” (or any other legal rights) can be assigned unless contract or law specifically prohibits.
So generally speaking, yes, RE rights can normally be assigned.
Recommend you talk to a local escrow co and see what RE forms they’d prefer you use in a RE assignment deal.
NOT a Title/Escrow but an escrow co. that limits itself to RE closings…the big national T/E outfits are pretty uptight about not wanting to give legal advice (and you don’t want that really)but the independent Escrows want your business and normally are quite helpful in helping you work through to some kind of closing they can work for you.
Also it’d pay you to tag along with some local REI so as to get his/her advice about how to buy, assign, etc., using right forms and escrow companies…this is a great way to learn from pros and maybe you could be helping that pro in some way or other so as to keep the tally even between you.