Frequently Asked Questions

Frequently Asked Questions

What is an Assignment?

An assignment of pre-construction condo is the transfer of an individual’s rights or property to another person or business before occupying the unit and closing on a mortgage. See Assignment Property for Sale.

How an Assignment Clause Works?

Assignment means transferring some or all property rights and obligations to another person through a written agreement. To be effective, an assignment must contain parties with legal capacity, consideration, permission, and legality of object. more details…

How Much is the Fee for Assigning?

It can range anywhere between $0-$15,000 or more, usually with the pre-construction projects the developers/builders charge a one time assignment fee to use assignment in future.

What are the Tax Obligation of Assignments and Profits?

We strongly recommend to speaking with a Professional Accountant regarding Tax and other Obligations.

What is Occupancy?

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What is Interim Occupancy

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