Document background
The Assignment Of Purchase And Sale Agreement is a critical document used in Swiss business transactions when a party wishes to transfer its rights and obligations under an existing purchase agreement to a third party. This document is particularly common in real estate transactions, corporate restructurings, and project developments. It must comply with Swiss federal law, particularly the Swiss Code of Obligations (Articles 164-174), and relevant cantonal regulations. The agreement becomes necessary when the original purchaser cannot or chooses not to complete the purchase, or when strategic business decisions require the transfer of purchase rights. The document typically includes detailed provisions about the original agreement, the terms of assignment, any consideration paid, and necessary consents from the original seller. For real estate transactions, additional formalities such as notarization and registration in the land register may be required.
