Assumption Of Agreement Meaning In Pima

Category:

Loans and Lending - Assumptions

State:

Multi-State

County:

Pima

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 type of agreement transfers the obligations of one party under a contract to another party. In real estate transactions, an assumption agreement allows a third party to "assume" or take over the loan of the property's seller.It may make a contract voidable if: 1. The mistake concerned a basic assumption on which the contract was made 2. To reserve funds in the program the borrower is required to have a signed real estate purchase contract for a specific address. The succinct answer is a Master Agreement is a legal and binding contract that has established. Article 12 CONSTRUCTION OF ORDINANCES.

Assumption Of Agreement Meaning In Pima

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