Ensure all necessary financial information is accurately provided. Get to grips with assumption agreements.This simple guide explains their purpose, key elements, and how they affect your business dealings. Thinking of taking on a mortgage from a family member? Then you'll likely look into a mortgage assumption agreement. This Settlement Agreement, dated as of December 9, 2022 (the "Agreement"), sets forth the. A loan assumption agreement allows them to understand what is expected from them and ensures that they are aware of their rights and legal responsibilities.