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 In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00424
Format:
Word;
Rich Text
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An assumption transaction may be accomplished with or without consent of the lender. The transaction involves only a title transfer.1. Read the agreement carefully to understand the obligations. When a loan is being assumed, in addition to an Assumption Deed, the Seller should require the Buyer to sign a Deed of Trust to Secure Assumption. It allows one party to "assume" the rights and responsibilities of the other party. In a deed of trust to secure assumption, another person assumes the note already in place, guaranteeing payment to the grantor in the deed.