Document background
The Assignment Of Purchase Agreement is a crucial document used when a party wishes to transfer its rights and obligations under an existing purchase agreement to another party under Belgian law. This document is commonly used in various commercial contexts, including real estate transactions, asset sales, and corporate restructurings. It must comply with Belgian Civil Code requirements for contract assignments, including proper identification of the rights being transferred, consideration for the assignment, and often requiring the original seller's consent. The document typically includes details about the original purchase agreement, the terms of assignment, representations about the status of the original agreement, and mechanisms for the transfer of rights and obligations. It's particularly important in situations where the original buyer cannot or does not wish to complete the purchase and has found another party to take over its contractual position.
