assumption
In this scenario, the buyer of a property will assume responsibility for the repayment of an existing loan.
Get a Free Quote
The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
assumption
Noun: premise, premiss, assumption (a statement that is assumed to be true and from which a conclusion can be drawn) "on the assumption that he has been injured we can infer that he will not to play"
Noun: assumption, supposition, supposal (a hypothesis that is taken for granted) "any society is built upon certain assumptions"
Noun: assumption, laying claim (the act of taking possession of or power over something) "his assumption of office coincided with the trouble in Cuba"; "the Nazi assumption of power in 1934"; "he acquired all the company's assets for ten million dollars and the assumption of the company's debts"
Noun: Assumption, Assumption of Mary, August 15 (celebration in the Roman Catholic Church of the Virgin Mary's being taken up into heaven when her earthly life ended; corresponds to the Dormition in the Eastern Orthodox church)
Noun: presumption, presumptuousness, effrontery, assumption (audacious (even arrogant) behavior that you have no right to) "he despised them for their presumptuousness"
Noun: Assumption ((Christianity) the taking up of the body and soul of the Virgin Mary when her earthly life had ended)
Noun: assumption (the act of assuming or taking for granted) "your assumption that I would agree was unwarranted"
- assumption -
Get a Free Quote
Return to Mortgage Glossary
A-C |
D-G |
H-N |
O-S |
T-Z
