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 Kings
Category:
State:
Multi-State
County:
Kings
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. Assignment involves the transfer of an interest or benefit from one person to another.(A) The parties hereto intend that this Agreement is a novation and that Assignee be substituted for Assignor in the Employment Agreement.