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 Meaning In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-00424
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Word;
Rich Text
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If you make an assumption that something is true or will happen, you accept that it is true or will happen, often without any real proof. This type of agreement transfers the obligations of one party under a contract to another party.Use this sample agreement to draft an assignment and assumption agreement for use as an ancillary document in the context of an asset purchase transaction. An Assumption Agreement is a legal document through which one party transfers its obligations or duties under a contract to another party. "Affiliate" shall have the meaning set forth in the Purchase and Assumption. This motor vehicle is being transferred.