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 Riverside
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State:
Multi-State
County:
Riverside
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. In real estate transactions, an assumption agreement allows a third party to "assume" or take over the loan of the property's seller.(Assign ment Agreement). Assignee desires to assume all of the Assignor's rights and obligations under the TUMF. CrediUReimbursement Agreement (Assignment Agreement). An Assumption Agreement is a legal document through which one party transfers its obligations or duties under a contract to another party. WHEREAS, Seller desires to sell the Property to Purchaser, and Purchaser desires to purchase the Property from Seller, on the terms set forth in this Agreement. Assignor was isthe "Owner" of the "Property" that was annexed to the City of.