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What is a deed of assumption?

In: Deeds and Ownership [Edit categories]

Answer:

A deed is not "assumed" they are transfered. A mortage ( the loan) could MAYBE be assumed. Although it was something done a lot more some years ago, not as many mortages today allow this. If you are in fact, referring to a mortgage and not the title to the property, check your paper work or contact the lender. ALSO: Some states still insist on using archaic terms in their real estate laws. To make certain that you are knowledgeably speaking about what you are referring to, contact an attorney or real estate broker for clarification.

First answer by Bob811. Last edit by Bob811. Contributor trust: 1155 [recommend contributor ]. Question popularity: 1 [recommend question].

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Can you answer these Deeds and Ownership questions?

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