Shar NJ 1 Report post Posted August 18, 2014 Good Morning All, Now that I've been in the business a bit I have some contracts closing and this particular one is being extended. Thank you for answering my more sophisticated questions lately. I assigned a lease and option a year and a half ago. The seller and tenant/buyer have decided to extend the agreements. The seller says she spoke to an attorney and he said because I was the original principle I will need to be involved. The seller sent me paperwork she wants me to sign: an extension of lease, option, and assignment; three separate documents. Based on the wording in the original Agreement of Assignments, I have assigned all rights to the Tenant/buyer so I don't want to be involved in the extension agreements between the two of them. Have any of you that completed a CA had to be a part of extending the agreements eventually? Thank you again, Sharyn Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 18, 2014 With the understanding that I am not an attorney, I must disagree with the seller's attorney. The Assignment Agreement makes it quite clear that you have relinquished all interest and rights in the deal to a third party, in this case the tenant/buyer. You have no further attachment or involvement in the deal. I wouldn't be involved in any such extension, nor can I see why you should be. I'd politely but firmly tell the seller just this in so many words and be done with it. Share this post Link to post Share on other sites
Shar NJ 1 Report post Posted August 18, 2014 I thought the same, I wanted to get a more experienced opinion here. Thank you for your quick reply! Share this post Link to post Share on other sites