Contracts
Assignment of a contract transfers:
AOwnership of the property to the assignee
BThe contractual rights and obligations to a third party (the assignee)✓ Correct
CThe mortgage to another lender
DThe listing agreement to another broker
Explanation
Assignment transfers the contractual rights and/or obligations of one party (the assignor) to a third party (the assignee). Real estate contracts are assignable unless they specifically prohibit assignment.
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