Will Google re-assign an existing pagerank

if I point its domain to a new site

[Dubya_J]

Got a nagging question...

if I've got a site with 1000 links into it and a pr of 7....

and I wan't to phase out that site, and redesign the site on a new domain.

Will Google assign my page rank of my old site to my new one if I point the old domain at it?

If so...whats the best way to go about it, or do I jus have to encourage all my links to repoint themselves

[hurlimann]

It will assign PR if you use a 301 redirect. However it will only do this for one or to updates so you would need to get the links changed asap.