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 Form In Minnesota
Category:
State:
Multi-State
Control #:
US-00424
Format:
Word;
Rich Text
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Purpose: To release original borrower from liability under the mortgage. Distribution: Recorded original to Servicer.This assignment and assumption of lease agreement template transfers a tenant's interest under a Minnesota commercial lease to a third party. Forms are required to be filed in the county where the property is located. The list should include the form name, form number, approval date, SERFF Tracking Number, and State Tracking Number (if applicable). This Standard Document contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement.