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 Agreement In Spanish In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00424
Format:
Word;
Rich Text
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Also called an assignment and assumption. An agreement in which one party transfers its contractual rights and obligations to another party.
An Assumption Agreement is a legal document through which one party transfers its obligations or duties under a contract to another party. Essentially, it outlines the specific responsibilities that the new party agrees to assume, ensuring that original obligations are preserved even as parties change.