Unless prohibited by the contract, an assignment of a purchase agreement:

Correct Answer

B) Transfers the buyer's contractual rights to a third party

Unless the contract expressly prohibits it, a buyer may assign their rights under a purchase agreement to a third party. The assignment transfers the buyer's contractual rights to the assignee. Importantly, unless the seller agrees to a novation, the original buyer typically remains liable if the assignee fails to perform. AREC approval is not required for contract assignments.