What is a condo assignment? In the real estate jargon, an assignment is the right to purchase a property. Basically, it is a transfer of a contract to buy the property before occupancy. After occupancy, the property can be sold and is grouped among the properties for ‘resale.’ This happens when the prospective property has not been build yet or is not ready for occupancy, therefore, has not been registered with the Land Registry System. As such, it cannot be sold and only the right to own can be offered by the Builder. Toronto condo assignmentt for buyers who need to sell, wish to take out equity, wants to reinvest the appreciation (when value of the property appreciated) and who wants to protect himself from risks of a market downturn. To know more about the ins and outs of this kind of transaction, buyers should seek the help of specialized real estate agents.