Double closing beats assignment in real estate deals because assigning multiple contracts within 12 months counts as broker activity and requires a license. A double closing avoids this regulatory trap by using a separate loan assignment instead.
Something that just popped into my head that I want to put in here real quick, but anyway, go back down. So the best way it says to do it is to do a double closing. And the reason is because it says here, if a, if your second or more compensated assignable contract has been done in 12 months, it's treated as engaging in broker activities unless you're properly licensed. So that was the assumption I created was that you have to have a broker's license to be assigning contracts like that all the time. Right. If it's a double closed-end loan assignment. Right. Okay.
