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 Utah
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State:
Multi-State
Control #:
US-00424
Format:
Word;
Rich Text
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What is an Assignment And Assumption Agreement? An assignment and assumption agreement transfers one party's rights and obligations to a third party.In a Novation Agreement, the original contract is replaced entirely, with a new party taking the place of the original party. This assignment and assumption agreement template includes a novation agreement and may be used to transfer an agreement from one party to another. Novation clause samples. 7. An assignment and assumption of lease is a legal real estate document that allows one party to transfer rights and obligations of a lease to another party.