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Assumption Agreement

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Chapter 7. Assumptions 1. General Information on Assumptions

Chapter 7. Assumptions 1. General Information on Assumptions

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he/she sells by assumption to a creditworthy assumptor, who executes an agreement to assume and to pay the debt, thus becoming the substitute borrower. The due-on-sale clause is generally triggered when an owner is deleted from the title, except when that party’s interest is transferred by devise, descent, or

  Agreement, Assumptions

THIS IS A LEGALLY BINDING CONTRACT BETWEEN …

THIS IS A LEGALLY BINDING CONTRACT BETWEEN …

dlr.sd.gov

Agreement Addendum as authorized by Purchaser and Seller. _____, hereinafter referred to as Purchaser, offers and agrees to purchase from _____, hereinafter referred to as Seller, upon the terms and conditions set forth, the property legally described as: ...

  Agreement

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