Reassigning Commercial Property

Reassigning Commercial Property

Can you Reassign Commercial Property. If so can you use Dean's same stategies and contracts to do so or are there differnt forms that have to be used?


Reassigning Commercial Property

Remember you do not assign a property, you are assigning your interest in a contract to another person or entity.

The short answer is "yes".

You can do it, but a commercial contract is way more difficult than a residential contract. So, you will need to be more transparent in the transaction. You will want to disclose from the start that you will be assigning your interest and that you will be bringing in the assignee to work with the seller to complete the transaction.

Make sure you use a commercial real estate agent who know about the details like estoppel certificates, crediting the buyer with the tenant's deposits, how to review tenant leases, etc.

Just like with residential if you find a good enough deal, you will be able to sell your interest in the contract to a qualified buyer.

Commercial Property

Thank you for the information. I really appreciate it!

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