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 Of Agreement Meaning In Tarrant
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State:
Multi-State
County:
Tarrant
Control #:
US-00424
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Title is transferred and the buyer makes a promise to the seller that he or she will assume payments on the existing note as they fall due. This type of agreement transfers the obligations of one party under a contract to another party.It allows one party to "assume" the rights and responsibilities of the other party. 41-3 Redline 11.2022. This Assignment and Assumption of Lease Agreement and. Landlord's Consent (the "Agreement"), is made as of this.