By Lisa A. Tyler
National Escrow Administrator
Settlement agents are regularly asked to handle transactions in which the buyer assigns a purchase agreement to another buyer prior to closing. In today’s market, these assignments have become increasingly popular. Sometimes the landowner and the initial buyer negotiate the future assignment when the purchase agreement is negotiated. Other times, the assignment is not contemplated until the initial buyer is approached by a new buyer to “buyout” their existing interest in the purchase agreement. Many times, the assignor is inexperienced
