Contracts
What is an 'assignment' of a real estate contract in Hawaii?
AA. Transferring ownership of the property before closing
BB. Transferring one party's rights and obligations under a contract to a third party✓ Correct
CC. Assigning the listing to another agent
DD. Reassigning the earnest money to a different escrow account
Explanation
Assignment transfers a party's contractual rights (and sometimes obligations) to a third party. Many purchase contracts prohibit assignment without seller consent.
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