What Is And/or Assigns?
Also known as: Assigns Clause
And/or assigns is contract language showing that the buyer may transfer their rights in the purchase agreement to another buyer.
And/or assigns is contract language showing that the buyer may transfer their rights in the purchase agreement to another buyer.
And/or Assigns explained
The phrase is common in wholesaling because it supports assignment. It signals that the named buyer can assign the contract rights to an end buyer, often for a fee. The phrase alone is not a complete compliance strategy, though. Sellers should understand what assignment means, and some contracts or state rules may restrict it. Operators should confirm their paperwork with a local real estate attorney.
Example
The buyer line says ABC Home Buyers LLC and/or assigns, making it clear the contract may be assigned before closing.
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