Detroit Michigan Assumption of Existing Mortgage Addendum
Category:
State:
Multi-State
City:
Detroit
Control #:
US-RE-A-101730-1
Format:
Word;
Rich Text
Instant download
Description
This is a sample Assumption of Existing Mortgage Addendum. An assignment and assumption agreement is used after a contract is signed, in order to transfer one of the contracting party's rights and obligations to a third party who was not originally a party to the contract. 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 form may be customized to suit your needs.
