How to do an Assignment of Contract

If you would like to create an Assignment of Contract in YachtCloser, we recommend you use the Amendment to Purchase and Sale Agreement to satisfy this request.  For assistance on how to create this document see help article How to Create an Amendment to the Purchase and Sale Agreement 

Specifically for the Assignment of Contract, type the terms of the Assignment into the Amendment text box on the Terms page for the deal you are working on.  For the Assignment of Contract, you could write something like..."it is agreed by both parties that the Buyer (or Seller) will now be ............. who will now be subject to the Terms and Conditions of the Purchase and Sale Agreement". 

When ready, send to both parties for signature.  Once FULLY EXECUTED, remember to update the Buyer (or Seller) fields with the new name and from that point forward, the new Buyer (or Seller) name will be reflected on all newly created documents.

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