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Real Estate Glossary

Assumption of mortgage

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Richard Wilson
Written by Richard Wilson

Also known as simple assumption, assumption of mortgage refers to the transfer of title to property to a grantee who accepts the liability and terms and conditions of an existing mortgage, including its payments.

Also known as simple assumption, assumption of mortgage refers to the transfer of title to property to a grantee who accepts the liability and terms and conditions of an existing mortgage, including its payments.

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Richard Wilson

Richard Wilson

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