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 ?
She was a lifelong member of Assumption Christian Church.
In less than a year, this dream was realized when the AAA recently hosted the very first Alumnae Summit at the Assumption San Lorenzo campus.
He mentioned his mothers, Grace Poe who is also an alumna of Assumption College and who is pushing for a nationwide feeding program for children.
London: The upward revision of aluminium, hard coking coal and thermal coal price assumptions in Fitch Ratings' latest review reflect expected supply constraints.
Crime didn't pay; I was punished all the time,' says Cristina Ansaldo Estrada, De Vera's batchmate and former Assumption professor.
To do so, first select each assumption cell in the worksheet (one at a time or all at once by holding down the Ctrl key to select multiple assumption cells), then right-click one of the selected cells, select Format Cells from the pop-up menu, and then, on the Protection tab, uncheck the box labeled Locked, as pictured below.
It is hard to imagine online instruction without instructional technology, so one immediate assumption is that online course design and delivery must be instructional technology-based.
The number of Omani males will increase with 69% compared to about a 72% increase among the females according to average fertility assumption in the year 2040.
"I thought about, 'How happy would I be working at a school like Assumption?'' Harding said.
I ask, "What assumption is your opinion about teaching and learning based upon?" In other words, opinions are outward verbalizations of certain beliefs, which a person holds and those are based on certain assumptions about the world.
In hindsight it's easy to say that LTC insurance companies were "overly optimistic." Past pricing assumptions must be put into the context of the time in which they were made and why those assumptions were made at that time.
The Argument for Assumption of the Risk in Maritime