What does “And/Or Assigns” actually do?
0:00 – Introduction.
1:03 – Assignable. To assign a contract is to sell the sale of the contract, NOT the actual property. This is called “Wholesaling” a property.
2:05 – REPC Forbids Assignment. You can’t assign the contract, unless you do it properly. Assignment may happen because they may not know what they have. The REPC is protecting the seller. A long deadline is sign of a possible assignment.
5:35 – Permissible Transfer. If an individual gets it under contract, but they want their family trust (or other related entity), they can transfer using Permissible Contract.
6:51 – What’d we learn today?
8:43 – Bloopers.
* No assignments were harmed in the making of this video.
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A Production with Security Home Mortgage’s Jason Christiansen, and Hive Collective at Presidio’s Tyler Cazier and “Mr. Suit” Aric Wiszt.