Bill Of Sale And Assignment And Assumption Agreement With Release

State:
North Dakota
Control #:
ND-TH-159
Format:
PDF
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Master Bill of Sale, Assignment and Assumption Agreement regarding Ground Leases, Real Property and Other Assets
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FAQ

Release of the Debtor. In consideration of the assumption of the Debtor's Liabilities, the Creditor (a) agrees to look solely to the Assuming Party for the payment and the performance of the Liabilities; and (b) forever releases and discharges the Debtor from the Liabilities.

Filling in the Assignment and Assumption AgreementThe effective date of the assignment and assumption agreement. Identification of the party making the assignment (the assignor), and a statement of their desire to assign their rights under the initial contract.

Also called an assignment and assumption. An agreement in which one party transfers its contractual rights and obligations to another party.

Mortgage assignment, usually involving a mortgage lender, is very different from mortgage assumption, involving a homebuyer. Mortgage assignments occur when the original lender transfers the mortgage loan to a third party.

An assumption agreement, sometimes called an assignment and assumption agreement, is a legal document that allows one party to transfer rights and/or obligations to another party. It allows one party to "assume" the rights and responsibilities of the other party.

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License Agreement to Assignee, and Assignee desires to accept the assignment of the License. Assignor shall be relieved of all of its duties, obligations and liabilities under the PPA during the Assignment.This applies to all Section. 8 HAP contracts, regardless of whether there is a HUD-insured mortgage. Assignment. Assignor assigns to Assignee all of Assignor's right, title, and interest in and to the Purchase Agreement, as amended.

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