7/23/2019 Assignment of the Right/Option to Purchase
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ASSIGNMENT OF OPTION TO PURCHASE LAND
This Agreement made effective as of the _____ day of
______________, _______ by and between[ASSIGNOR], of [address] (the
Assignor) and [ASSIGNEE], of [address] (the Assignee).
WHEREAS:
(A)
The Assignor holds an option to purchase property located
at____________________________, which expires on
__________________________ (theOption), a copy of which is attached
hereto.
(B)
The Assignor wishes to sell the Option to the Assignee.
IT IS HEREBY AGREED as follows:
1. For value received of _________________, receipt of which
Assignee hereby acknowledges,[NAME OF ASSIGNOR] of [address of
assignor] (Assignor) hereby assigns and transfers to [NAMEOF
ASSIGNEE] of [address of assignee] (the Assignee), all rights and
interest of Assignor in an
Option dated [date of option agreement] whereby Assignor was
given the option to purchase from[NAME OF PARTY SELLING PROPERTY]
of [address of selling party] the following described realestate at
a price and under the terms and conditions therein contained:
[FULL LEGAL DESCRIPTION OF REAL ESTATE]
Such option commenced on [date option commenced] and is good
until _________ o'clock, ______[A.M./P.M.], _________________ [date
option expires].
The Assignor, by virtue of this assignment, grants to Assignee
the right to exercise or reject the optionin good faith and the
right to recover any moneys deposited by Assignor to receive said
option.
2. The Assignor warrants that the option is fully
assignable.
3. The Assignee, by accepting the transfer of Option agrees to
exercise the Option, if at all,according to its terms.
4. This agreement shall be binding upon and inure to the benefit
of the parties, and theirsuccessors and assigns.
IN WITNESS OF WHICH the parties have signed this agreement the
day and year first above written.
Dated at _______________________ this ______ day of
___________________, _________.
_________________________________
_________________________________[ASSIGNEE] [ASSIGNOR]
_________________________________
_________________________________[WITNESS] [WITNESS]
