Iowa Real Estate Assumption Agreement
Category:
State:
Multi-State
Control #:
US-RE-A-10101-1
Format:
Word;
Rich Text
Instant download
Description
An assumption clause is a provision in a mortgage contract that allows the seller of a home to pass responsibility for the existing mortgage to the buyer of the property. The new homeowner assumes the existing mortgage and—along with it—ownership of the property that secures the loan.
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