Other

TXR 1943 — Commercial Contract Assignment of Buyer's Interest

A two-page form by which the buyer (Assignor) under a TXR commercial contract assigns its entire interest in the contract to a new party (Assignee). For ten dollars and other valuable consideration the Assignor transfers all of its rights, interest and obligations — including its interest in the earnest money — and the Assignee assumes all of the Assignor's responsibilities under the contract. Identifies the Assignor, the Assignee (with address, phone, e-mail, fax and other contact), the Seller, the Property and the contract (improved or unimproved, by effective date), carries special provisions and an assignment effective date, and is executed by the Assignor and the Assignee (up to two signers each) with the Seller's written consent to the assignment (up to two signers).

Source: TXR
Form Number: 1943
Category: Other
Revised: April 1, 2014

Used For

Commercial Sales

Form Outline

The TXR 1943 form is organized into the following sections:

  1. Assignor, Assignee, Seller and Property
    "ASSIGNOR: ___ / ___", "ASSIGNEE: ___ / ___" with Address / Phone / E-mail / Fax / Other, "SELLER: ___ / ___", "PROPERTY: ___ / ___ / ___", then "CONTRACT: A Commercial Contract – ❑ Improved Property ❑ Unimproved Property executed by Assignor (as Buyer) and Seller concerning the Property, having an effective date of ___, ___."
  2. Assignment and Consideration
    "For and in consideration of TEN AND NO/100 DOLLARS ($10.00) and other good and valuable consideration paid by Assignee to Assignor, Assignor hereby assigns Assignor's interest in the Contract, including Assignor's interest as Buyer and Assignor's interest in the earnest money in the amount of $___ to Assignee, and Assignee hereby assumes all of Assignor's responsibilities and obligations associated with Assignor's interest in the Contract."
  3. Special Provisions
    "SPECIAL PROVISIONS: ___" plus seven full-width rules.
  4. Assignment Effective Date
    "This Assignment shall be effective as of ___, ___."
  5. Assignor Execution (page 2)
    Page 2, left column: "Assignor: ___ / ___" then two signer blocks "By: ___ / By (signature): ___ / Printed Name: ___ / Title: ___ Date: ___". Signature and Date are e-sign tabs.
  6. Assignee Execution (page 2)
    Page 2, right column: "Assignee: ___ / ___" then two signer blocks "By: ___ / By (signature): ___ / Printed Name: ___ / Title: ___ Date: ___". Signature and Date are e-sign tabs.
  7. Seller's Consent to Assignment (page 2)
    "Seller consents to the assignment of Assignor's interest in the Contract to Assignee." then "Seller: ___ / ___" and two signer blocks "By: ___ / By (signature): ___ / Printed Name: ___ / Title: ___ Date: ___". Signature and Date are e-sign tabs.

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