The Unconditional Assignment of Rights Under a Contract Extinguishes the Rights

question 20

True/False

The unconditional assignment of rights under a contract extinguishes the rights of the assignee.

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Definitions:

Registry System

A system for recording and tracking the ownership and transactions of assets, such as real estate or vehicles.

Fee Simple

The most extensive ownership interest in land that one can possess under law, which includes the right to use, lease, or sell the property at will.

Good Chain of Title

A clear sequence of ownership documents reflecting an unbroken transfer of property rights from the original owner to the current owner.

Reversioner

An individual or entity entitled to reclaim possession of property after a certain condition has been fulfilled or a specific period has elapsed.