assumption of mortgage


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assumption of mortgage

The purchaser of property may promise the vendor that he will assume the obligation to keep up the mortgage payments. In such event, the mortgagee may generally enforce this promise against the purchaser, and in addition to his right to foreclose in the event of nonpayment the mortgagee may also recover from the purchaser (or from the vendor) any deficiency between the proceeds of the foreclosure sale and the amount still owing on the mortgage. Also see subject to mortgage.
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Contract notice: Race for the assumption of mortgage 1 at the expense of the state, for investment relative national irrigation plan.
5 million, the assumption of mortgage debt, and credit facility borrowings.
Assumption of mortgage in the amount of $2,960,000 for a six-story walk-up apartment building containing 16 units with 1 store, located on St.
While the acquisition is expected to be funded with borrowings under Mack-Cali's existing facility as well as the assumption of mortgage debt, Fitch notes that the company's leverage is expected to remain at a level that is appropriate under the existing ratings.
6 million in cash and the assumption of mortgage debt of approximately $22.
The balance of the purchase price will be satisfied by the assumption of mortgage debt.
The purchase price will be partially satisfied by the assumption of mortgage debt of $25.
New Castle Associates, a partnership whose partners include Ronald Rubin, PREIT Chairman and Chief Executive Officer, and George Rubin, President of PREIT's management subsidiaries and a PREIT Trustee, acquired Cherry Hill Mall from Rouse in exchange for its interest in Christiana Mall, cash and the assumption of mortgage debt.