Contracts
In West Virginia, a purchase contract may be assigned to another party unless:
AThe property is commercial real estate
BThe contract specifically prohibits assignment✓ Correct
CThe assignment would change the property being sold
DThe original buyer paid earnest money
Explanation
Contract assignment is generally permitted unless the contract contains an anti-assignment clause (as many residential purchase contracts do). Assignment transfers the buyer's rights and obligations to a third party.
Related West Virginia Contracts Questions
- In West Virginia, an offer becomes a binding contract when:
- Which clause in a West Virginia purchase contract allows the seller to continue marketing the property and accept a better offer if the current buyer's contingencies are not met?
- A West Virginia real estate contract that contains an illegal provision is:
- In West Virginia, a 'kick-out clause' (right of first refusal clause) in a purchase contract with a home sale contingency allows the seller to:
- A 'contingency' in a West Virginia real estate contract means:
- A West Virginia purchase contract that is 'voidable' means:
- A West Virginia buyer submits an offer with a 48-hour acceptance deadline. If the seller does not respond within 48 hours, the offer:
- A West Virginia real estate contract is deemed 'executed' when:
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