PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
Assignment
An assignment transfers a party's contractual rights to another person, the assignee, without necessarily releasing the original party from contractual obligations.
Contracts
Contract changes and transfer
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Assignment mean?
An assignment transfers a party's contractual rights to another person, the assignee, without necessarily releasing the original party from contractual obligations.
How do you separate the nearest exam answer?
Assignment transfers rights. Delegation transfers duties. Novation substitutes a party or obligation with agreement and releases the replaced obligor.
What changes or stays the same in Georgia?
The contract controls whether assignment is permitted, restricted, or requires consent. An assignee takes only the rights the assignor could transfer.
A buyer transfers the right to purchase under an assignable contract to an investor, but the seller has not agreed to release the original buyer from liability.
A new person performing does not prove the original party was released.
Memory cue: A new person performing does not prove the original party was released.PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
Which statement correctly explains Assignment?
- A
Novation is the substitution of a new party or obligation for an existing one with the agreement of the necessary parties and release of the replaced party or duty.
- B
An assignment transfers a party's contractual rights to another person, the assignee, without necessarily releasing the original party from contractual obligations.
- C
An amendment is a later agreement that changes, deletes, or replaces terms in an existing contract.
- D
An alienation clause, often called a due-on-sale clause, allows a lender to require repayment of the outstanding loan when the borrower transfers the secured property without the lender's permitted assumption or consent.
Assignment is correct. An assignment transfers a party's contractual rights to another person, the assignee, without necessarily releasing the original party from contractual obligations. Assignment transfers rights. Delegation transfers duties. Novation substitutes a party or obligation with agreement and releases the replaced obligor. The contract controls whether assignment is permitted, restricted, or requires consent. An assignee takes only the rights the assignor could transfer.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Contracts complete lesson
https://www.passgeorgiarealestate.com/study-guide/contracts/purchase-agreements
Official exam administration and content-outline source.
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