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In West Virginia, an assignment of a real estate contract:
Correct Answer
B) Transfers rights (and possibly obligations) to a third party
Unless the contract prohibits it, most real estate contracts are assignable. An assignment transfers the assignor's rights to a third party. The original party may remain liable unless a novation occurs.
Answer Options
A
Is always prohibitedB
Transfers rights (and possibly obligations) to a third partyC
Automatically releases the original party from liabilityD
Requires Real Estate Commission approvalWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Related Topics & Key Terms
Related Topics:
novationassignor-liabilitycontract-rights
Key Terms:
assignmenttransfer rightsstill liablenovation needed
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