Assumption Clause | Real Estate Glossary

Definition of "Assumption clause"

Provision in a mortgage permitting the owner of property to transfer the mortgage to a buyer.

Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage ...

Increase in the value of real or personal property. The price may increase because of a number of fa ...

Retirement income benefit of a survivor (or survivors) of an insured individual, according to a part ...

Substance developed from a binding cement medium with stone particles compacted together. After conc ...

Transaction savings realized by setting a fixed and certain price. ...

Minimum amount of coverage for which a company will write a liability insurance policy. ...

A quit claim deed is a formal document that denies a claim to a certain property. Often used to clea ...

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

When a property depreciates it declines in the value of the property due to poor location, dilapidat ...

Our agents have a wide range of coverages available, as well as an array of choices for limits and d ...

Freddie Mac is a name for the Federal Home Loan Mortgage Corp., which is a financial corporation cha ...

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

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