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assumption clause

A contractual provision that enables the buyer to take responsibility for the mortgage loan from the seller.

Related information about assumption clause:
  1. 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 ...
     
  2. 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. 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.
     
  4. 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.
     
  5. 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 ...
     
  6. 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 ...
     
  7. Justia :: Glossary & Dictionary Non-assumption Clause
    Justia - Glossary & Dictionary Non-assumption Clause - Free Legal Information - Laws, Blogs, Legal Services and More.
     
  8. 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 ...