Assignment of Contract with Consent


More Info
									An Assignment of Contract is used by individuals or entities wishing to assign all their
rights and obligations under an existing Contract (the “Assignor”) to a new individual or
entity not previously part of the original Contract (the “Assignee”). Some contracts
require the non-transferring party (the “Obligor”) to consent to the assignment. This
document specifically identifies that consent to the assignment has been given by the
non-transferring party. This document should be used by parties who wish to assign
their rights to a Contract after obtaining the required consent.
                   Assignment of Contract with Consent to Assignment

FOR VALUE RECEIVED, (Name of Assignor), the undersigned Assignor, hereinafter called
Assignor, hereby assigns, transfers and sets over to (Name of Assignee), hereinafter called
Assignee all rights, title and interest held by Assignor in and to the following described contract:
(description of contract).

Assignor warrants and represents that said contract is in full force and effect and is fully

Assignee hereby assumes and agrees to perform all the remaining obligations of Assignor
under the contract and agrees to indemnify and hold Assignor harmless from any claim or
demand resulting from non-performance by Assignee.

Assignee shall be entitled to all monies remaining to be paid under the contract, which rights are
also assigned hereunder.

Assignor warrants that the contract is without modification, and remains on the terms contained.
Assignor further warrants that he has full right and authority to transfer said contract and that the
contract rights herein transferred are free of any liens, encumbrances or adverse claims.

This assignment shall be binding upon and inure to the benefit of the parties, their successors
and assigns.

WITNESS our signatures this the ____ day of _____________, 20___.

        ________________________                   _________________________
        (Signature of Assignor)                     (Signature of Assignee)

        ________________________                   _________________________
        (Printed Name of Assignor)                  (Printed Name of Assignee)

                                         Consent to Assignment

The undersigned, (Name of Obligor), as Obligor under that certain contract described above,
executed at (Name of City and State), hereby consents to the assignment of my obligations
under said contract to (Name of Assignee).

WITNESS my signature this the ____ day of _____________, 20___.

                                                   (Signature of Obligor)

                                                   (Printed Name of Obligor)

© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                  2

To top