Assigning rights does not automatically release the original buyer from payment obligations. Address consent, advances and continuing liability.
Another person does not automatically become the contractual buyer merely by funding the purchase or attending the notary appointment. Transferring rights differs from being released from obligations. Substitution of a debtor requires the creditor's express consent—usually the seller's consent in relation to the price.
A claim may be assigned subject to the law, the contract and its nature; notification matters for its effect against the debtor. Assignment alone does not release the original buyer from promises they made. A new person joining an obligation may also leave the original buyer liable alongside them.
A three-party agreement can often identify the replacement buyer, the original buyer's release or continuing liability, and treatment of the advance. It should also address accrued penalties, entitlement to refunds after rescission and whether existing deadlines remain.
If the new buyer is a company or uses a mortgage, check representation and financing as well. A private receipt for purchasing someone's 'deposit' may leave the underlying agreement unchanged.
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This article is for general information only. It does not constitute or replace individual legal advice.