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 Agreement With Release Of Liability In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-00424
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
More info
Filed with the Securities and Exchange Commission. Purpose: To release original borrower from liability under the mortgage.Distribution: Recorded original to Servicer. A loan assumption is a lending process where a borrower formally takes over or "assumes" a current home loan from a home seller. As used in this Agreement, "Assumed Liabilities" shall include New. But if the seller wants to be released from liability on the loan, the buyer must qualify to assume the loan.