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 Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00424
Format:
Word;
Rich Text
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THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Agreement") is entered into as of the. This Assignment and Assumption Agreement ("this Agreement") is made and entered into as of.Once you go into a purchase and sale agreement with your seller you need an assignment agreement to assign that to your end buyer. An assignment and assumption agreement is a contract that allows one of the parties to transfer their contractual rights and duties to another party. This Standard Document contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement. The Assignor wishes to assign the Lease to the Assignee and the Assignee desires to assume the Lease from the Assignor.