What is the name of your state? Virginia
I have been doing some reading on real estate laws and I need to know if Virginia recognizes or allows the right to assign a contract to purchase real estate. For example...
Let's say that I want to buy a piece of investment property, potentially to resell it. If I used a contract that includes a line that says, "Purchaser shall have the right to assign his/her interest in this contract prior to escrow." Would that, according to Virginia laws, allow me to transfer my right to purchase the property to another person or entity?
Thank you in advance for any help or suggestions.
I have been doing some reading on real estate laws and I need to know if Virginia recognizes or allows the right to assign a contract to purchase real estate. For example...
Let's say that I want to buy a piece of investment property, potentially to resell it. If I used a contract that includes a line that says, "Purchaser shall have the right to assign his/her interest in this contract prior to escrow." Would that, according to Virginia laws, allow me to transfer my right to purchase the property to another person or entity?
Thank you in advance for any help or suggestions.
