Assumption

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Assumption

Becoming responsible for the liabilities of another party.

Assumption

The act of taking on the liabilities of another property. For example, if one is a co-signer on a loan and the borrower defaults, the co-signer assumes the responsibility to repay the loan.

Assumption

A method of selling real estate where the buyer of the property agrees to become responsible for the repayment of an existing loan on the property.

Unless the lender also agrees, however, the seller remains liable for the mortgage.

References in periodicals archive ?
This alphabet book of Assumption traditions, customs, history, events, people, personages and more is the brainchild of Lui de Vera (Class of 1967).
In other words, opinions are outward verbalizations of certain beliefs, which a person holds and those are based on certain assumptions about the world.
Assumptions are more than just best-guess factors required to continue the planning process.
There are two assumptions that seem to halt innovation in its tracks more than others: "This is how it's always been done, so this is how we'll continue doing it.
The same holds for a speculative assumptions such as "He gave me an important project; he must really trust me.
In practice, assumptions are requested when a current borrower of a commercial/multifamily loan wishes to sell all or part of the property and the property purchaser agrees to be bound by the terms of the existing loan documents.
In response: Cox's letter (1) contains a number of false assumptions, errors, misleading assertions, and misquotations.
However, (Los Angeles officials) are going to have to revisit their assumptions on annual returns sooner rather than later.
To value options, you have to make assumptions about the likely term and volatility, and I think a lattice model captures those variables better.
In addition, practitioners have to analyze all the assumptions on which the facts rest to be sure they are reasonable, including a review of financial forecasts and appraisals.
During the next class, we used SPSS to analyze the data, interpreted related concepts, and evaluated assumptions before interpreting statistics and making inferences.
The time spent as chief engineer on the Mustang gave Thai-Tang a vision of success for his new position: assumptions that are attainable.