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 Fulton
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State:
Multi-State
County:
Fulton
Control #:
US-00424
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Word;
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This type of agreement transfers the obligations of one party under a contract to another party. "Assumed Deposits" means Deposits."Assuming Institution" is defined in the introduction to this Agreement. In real estate transactions, an assumption agreement allows a third party to "assume" or take over the loan of the property's seller.