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 ?
The speakers included Brother Armand Lemaire, the college's alumni ambassador; Kerry Phayre, Assumption's women's basketball head coach; Assumption President Francesco Cesareo; associate professor Kevin Hickey; and former Greyhound athletes Kristen Ladebauche and Ed LaVigne.
A fact is a statement of information known to be true (such as verified locations of friendly and adversary force dispositions), while an assumption provides a supposition about the current situation or future course of events, assumed to be true in the absence of facts.
Here he elaborates on the importance of dispelling organizational and personal assumptions.
Let's look at how to interject a freeing assumption into the conversation.
In response: Cox's letter (1) contains a number of false assumptions, errors, misleading assertions, and misquotations.
5 percent assumption in the years to come, the taxpayer contribution still will rise from $323 million annually to $339 million in 2009.
For example, rather than assuming that all the options are exercised if the stock price reaches a selected multiple of the exercise price, a lattice model also can permit the assumption that only a certain percentage of outstanding options are exercised.
It cannot be based on an unreasonable legal assumption, nor assume the issue will result in a favorable determination.
On the other hand, there was some evidence to indicate that the assumption of constant variance across the values of AVGREBS was not maintained.
Thai-Tang's job as head of Advanced Product Creation is to go beyond the platform capability studies that determine how many derivatives can be built off a single base, beyond the external market data within which new market segments hide, and reconcile the business equation with the hardware assumptions and the design assumptions with the bill of process.