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.
Assignment And Assumption Agreement With Novation In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00424
Format:
Word;
Rich Text
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This Standard Document contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement. An assignment and assumption of lease is a legal real estate document that allows one party to transfer rights and obligations of a lease to another party.This assignment and assumption agreement template includes a novation agreement and may be used to transfer an agreement from one party to another.