Definition
The transfer of contractual rights from one party to another, common in wholesaling and in commercial lease transfers.
Example
The wholesaler assigned the purchase contract to an investor for a $12,000 assignment fee.
Related terms
Frequently asked questions
What does Assignment mean in real estate?
The transfer of contractual rights from one party to another, common in wholesaling and in commercial lease transfers.
How is Assignment used in practice?
The wholesaler assigned the purchase contract to an investor for a $12,000 assignment fee.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.