Deed Assignment, which is also known by other terms also, typically is when you owe close to what the property is worth, you want to sell, but do not want to take any more money out of your pocket for selling expenses, such as real estate commission, or repairs. You do not want to Ruin your Credit with a Foreclosure, or Short sale and need to Sell in a timely fashion. You deed the property to another party subject to the financing in place. The new party, makes the payments, catches up any late ones, and saves you from a tarnished credit history.
