What is an assumption deed?
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What is an assumption deed?
A deed is not "assumed" they are transferred. A mortgage ( the loan) could maybe be assumed. Not as many mortages today allow this, it was something done a lot more some years ago. To find out if it is, check your paper work or contact the lender.
This is a document to be utilised when you wish to replace one party with another in an ongoing situation. Similar to an assignment.
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