Greetings,
If you are referring to the language in a contract that reads this contract can not be transferred or assigned it means that you can not sell/assign your purchase agreement to a third party.

Example: You have a contract with Suzie Q for 123 Main Street at $150,000. You then assign/transfer that agreement to Dapper Dan for $155,000 so you are under contract with Suzie and Dan with You. Not acceptable.

Just a possible interpretation of the meaning of your question.

Real Estate Owned/ bank owned property.

Banks assign them to agents to get a BPO (broker price opinion) of a property and/or to list the property. Also may include things like changing locks, checking property for vacancy, snapping photos, getting utilities changed over, etc.



http://re.harborportal.com
http://www.cbgreatlakes.com/jared.hammond