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 ?
Red Team members have the ideal skill sets to analyze a concept to determine the implicit assumptions that are inherent in the environment and tasks and then use the metrics in figure 2 to determine assumption validity and elasticity.
But when you hear these types of assumptions presented as limiting, they provide an opportunity for you to move into the Challenge for Thought mode as a coach.
The key assumptions built into assessments that predict modest economic liabilities, or even benefits, include:
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.
Since the tax attributes of intangibles vary considerably by tax jurisdiction and since the entity is prohibited from using entity-specific assumptions (unless they mirror those of market participants), there are a significant number of alternative tax assumptions to choose from.
Cox's assumptions and calculations thus seem flawed and unrealistic.
* Practitioners must not assume favorable resolution of any significant Federal tax issue except as provided in Section 10.35(c)(3)(v) and (d), or otherwise base an opinion on any unreasonable legal assumptions, representations or conclusions.
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.
"[There are] certain assumptions you make about what your standoff statistics are going to be considering the size of the bomb a vehicle is carrying," Browne said.
Given theses assumptions and guiding principles, culturally sensitive crisis intervention requires a quick intervention to assist the victim's control over the presenting circumstances.
Third, and perhaps most critically, the assumption was made that the loss of counter-cyclical policy by the national governments would be accepted in any event.