The Agreement To Assign Contract For Sale And Purchase is a crucial document used in Canadian real estate transactions when an original purchaser (assignor) wishes to transfer their rights and obligations under a property purchase agreement to a new buyer (assignee) before the completion of the original transaction. This type of agreement is particularly common in pre-construction property sales, investment properties, and situations where the original purchaser cannot or chooses not to complete the transaction. The document must comply with provincial property laws and typically requires careful consideration of assignment restrictions, vendor consent requirements, and financial terms. It includes comprehensive details about the original purchase agreement, assignment price, payment terms, representations and warranties, and closing procedures. This agreement is especially relevant in hot real estate markets where property values may appreciate significantly between the original purchase agreement and completion date.

1. Parties: Identifies all parties: the Assignor (original purchaser), Assignee (new purchaser), and acknowledgment of the original Vendor

2. Background: Recitals explaining the original purchase agreement details and the intention to assign

3. Definitions: Key terms used throughout the agreement, including 'Original Agreement', 'Property', 'Assignment Date', etc.

4. Assignment: Core clause transferring all rights, title and interest in the original purchase agreement to the assignee

5. Assignment Price: Details of the consideration paid by the assignee to the assignor for the assignment

6. Payment Terms: Structure and timing of payments, including deposits and final payment arrangements

7. Assignor's Representations and Warranties: Confirmations regarding the validity of the original agreement, no prior assignments, and authority to assign

8. Assignee's Covenants: Promises to perform all obligations under the original purchase agreement and to indemnify the assignor

9. Conditions Precedent: Any conditions that must be satisfied before the assignment becomes effective

10. Closing Procedures: Steps to be taken to complete the assignment transaction

11. Notices: How and where formal communications between parties should be sent

12. General Provisions: Standard clauses including governing law, entire agreement, and amendment procedures