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Assumption |
Also found in: Dictionary/thesaurus, Legal, Idioms, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Associated General Contractors of America Association for Investment Management and Research Association of Real Estate License Law Officials Association of Southeast Asian Nations assumable loan Assumable Mortgage Assumed Interest Rate Assumption assumptions and limiting conditions Assurance ASX ASX Derivatives and Options Market ASXD Asymmetric information Asymmetric taxes |
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