This precedent is a simplified assignment and assumption of an Agreement of Purchase and Sale (the "APS") where the assignor and assignee are related parties or the APS allows for this type of assignment prior to closing. This agreement assigns the original purchaser's interest over to a new purchaser. The vendor has to consent to this assignment either via the APS or within a different type of assignment agreement with Vendor's consent. This precedent contains practical guidance and drafting notes. When a purchaser and vendor enter into an Agreement of Purchase and Sale (the "APS"), it is usually anticipated that the same vendor and purchaser will complete the transaction. Often, a potential buyer might sign the agreement "in Trust for a Corporation to be Named Later". It could be that the individual signing the agreement intends to incorporate a company to take title and beneficial ownership. In that case, the APS would have a provision drafted into it clearly allowing the individual.