Contracts
In Tennessee, an 'assignment' of a real estate contract transfers:
AThe physical property to the assignee
BThe assignor's rights and obligations under the contract to the assignee✓ Correct
COnly the buyer's rights, not their obligations
DOwnership of the earnest money to the assignee
Explanation
An assignment transfers the assignor's contractual rights and obligations to the assignee, unless the contract prohibits assignment. The assignor may remain secondarily liable unless specifically released.
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