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Refinance and Mortgage Encyclopedia - assumption agreement
Assumption AgreementAn undertaking of a debtThat which is due from one person or another; obligation, liability. or obligationLegal reservation of funds based on known requirements (a contract, for example), or an a realistic estimate of costs. primarily resting upon another personAn individual, corporation, partnership, Limited Liability Company or other legal entity. (REF CGS §38a-1(14)).. Assumption AgreementAn undertaking or adoption of a debtThat which is due from one person or another; obligation, liability. or obligationLegal reservation of funds based on known requirements (a contract, for example), or an a realistic estimate of costs. primarily resting upon another personAn individual, corporation, partnership, Limited Liability Company or other legal entity. (REF CGS §38a-1(14))..
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