PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
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.
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.
A buyer transfers the rights under an assignable purchase contract to an investor. The seller never agrees to release the original buyer. If the investor fails to close, whom can the seller hold to the contract?
- A
The original buyer, who remains liable
- B
Only the investor, who replaced the buyer
- C
No one, since assignment ended the contract
- D
Only the investor, once the seller was notified
An assignment transfers contract rights to the assignee but does not by itself release the assignor from the contract's obligations. A release takes the seller's agreement, which would make it a novation. Since the seller never released the original buyer, that buyer can still be held to the contract.
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
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