This form is an Assumption Agreement. The form provides that the grantee will assume a lien on property described in the agreement. The assumption will become effective on the date provided in the agreement.
Assumption Of Agreement In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00424
Format:
Word;
Rich Text
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Read more about purchase and sale agreement considerations and diligence best practices when navigating loan assumptions. Lender is willing to consent to the Transfer and agree to the Assumption, subject to the terms and conditions set forth in this Assumption Agreement. I.Auto-populate options to easily fill out information. It allows one party to "assume" the rights and responsibilities of the other party. "Assets" has the meaning set forth in the Purchase and Assumption Agreement. "Assuming Institution" has the meaning set forth in the Purchase and Assumption.