Legal Question in Real Estate Law in Florida
Assigning rights without seller's consent
We recently rec'd an offer on our home that included a clause that would have allowed the potential buyer to ''assign the contract to any person or entity of his choosing''. We struck this clause from our counter-offer, but I'm curious about the legal ramifications had we allowed this clause to remain in the contract. Thanks.
2 Answers from Attorneys
Re: Assigning rights without seller's consent
This is used to allow the buyer to hide themselves from the seller.
Re: Assigning rights without seller's consent
It has been very common for "purchasers" of property in the hot real estate market to be selling the contract and not actually wanting to purchase the property itself. The person who signed your contract with an assignment clause may have felt they got a low enough price from you to sell the property itself for a higher price. You typically are not harmed in any way because you are receiving the price that you contracted for, however, sometimes the party you contracted with attempts to show the property to the next prospective purchaser prior to actually closing on the property.
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