Posted by Bronchick on October 20, 1998 at 09:59:28:
If you assign a contract, the seller can still hold you liable. You need to get a release of liability from the seller to remove yourself from liability.
In addition, if the SELLER renegs, the assignee (person who you flipped your contract to) may be able to sue YOU for damages. This is why you should assign your contract “WITHOUT RECOURSE.”
contract assignment - Posted by Lezlie
Posted by Lezlie on October 19, 1998 at 10:06:53:
Could someone please tell me what my legal obligations would be, if any, after I assign a contract. If the the assingee does not keep to his end of the bargain, could the seller then come back at me? also, is there a sentence that I should put in the contract/or assignment to protect myself. One more questionl… do you recommend a seperate document for assignment or can I just write on the back of the contract? thanks