A contractual provision that enables the buyer to take responsibility for the mortgage loan from the seller.
Related information about assumption clause:
- Assumption Clause Definition | Investopedia
A provision in a mortgage contract that allows the seller of a home to pass responsibility to the buyer of the home for the existing mortgage. In other words, the ...
- Assumption clause allows seller to transfer the mortgage
Mar 26, 2004 ... Assumption clause is a conditional agreement between buyer and seller, which allows seller to transfer the mortgage to the buyer.
- 3 Questions to Ask about Your Loan Assumption Clause - Financial ...
A loan assumption clause is included in many mortgages. It describes the terms in which another individual can assume a loan that is owned by someone else.
- What is assumption clause? definition and meaning
Definition of assumption clause: A contractual provision that enables the buyer to take responsibility for the mortgage loan from the seller.
- Non-Assumption Clause - Mortgage Glossary | Quicken Loans
Non-Assumption Clause definition from the mortgage glossary at QuickenLoans. com. Learn mortgage terms and jargon with the Quicken Loans Mortgage ...
- Educational Materials - Mortgage Clauses
With an assumable mortgage, the assumption clause allows a buyer to take over the home seller's mortgage loan and monthly payment obligations, instead of ...
- Justia :: Glossary & Dictionary Non-assumption Clause
Justia - Glossary & Dictionary Non-assumption Clause - Free Legal Information - Laws, Blogs, Legal Services and More.
- What is Non Assumption Clause - Financing guide
Non Assumption Clause. A statement in a mortgage contract forbidding the assumption of the mortgage without the prior approval of the lender. Note: The ...