Assignment And Assumption Agreement With Novation In King

Category:

Loans and Lending - Assumptions

State:

Multi-State

County:

King

Control #:

US-00424

Format:

Instant download

Description

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.

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This Standard Document contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement. Like assignment, novation transfers the benefits under a contract but unlike assignment, novation transfers the burden under a contract as well.This assignment and assumption agreement template includes a novation agreement and may be used to transfer an agreement from one party to another.

Assignment And Assumption Agreement With Novation In King

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