Posted by John Merchant on July 13, 2007 at 22:14:13:
A written contract can, if it’s legally assignable (or if it’s not specifically forbidden by language of the written contract or your state law) be assigned to a lender as collateral for a loan/note.
I’d want a lawyer to do this CA so as to make sure the Assigning party has the right to assign it and that it’s done right and you could then do a Forfeiture of REC filing if you needed to.
I just realized that you didn’t say which party, the Seller or Buyer, wanted to assign his contract but probably either could assign his rights under the REC and either one might be equally good security for your loan.