Irvine California Purchase and Assumption Agreement to Purchase the Assets and Assume the Liabilities

• Category: Corporations - Public - Asset Purchase
• State: Multi-State
• City: Irvine
• Control #: US-C-P-AP-16765-1
• Format: Word; Rich Text

Description

This is a sample Purchase and Assumption Agreement. This sample is an Amendment to Purchase the Assets and Assume the Liabilities of a bank. Purchase and assumption is a transaction in which a healthy bank or thrift purchases assets and assumes liabilities (including all insured deposits) from an unhealthy bank or thrift. It is the most common and preferred method used by the Federal Deposit Insurance Corporation (FDIC) to deal with failing banks.