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 Example In Harris
Category:
State:
Multi-State
County:
Harris
Control #:
US-00424
Format:
Word;
Rich Text
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This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Need to assign your rights and duties under a contract?Learn more about the basics of an assignment and assumption agreement. Once you go into a purchase and sale agreement with your seller you need an assignment agreement to assign that to your end buyer. The Assignor wishes to assign the Lease to the Assignee and the Assignee desires to assume the Lease from the Assignor. Below is a list of common sections included in Assignment And Assumption Agreements. These sections are linked to the below sample agreement for you to explore. 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. Learn how assignment and assumption agreements can impact your business. Understand their uses, key terms, and how to draft them.