ASSUMABLE MORTGAGE
\ɐsˈuːməbə͡l mˈɔːɡɪd͡ʒ], \ɐsˈuːməbəl mˈɔːɡɪdʒ], \ɐ_s_ˈuː_m_ə_b_əl m_ˈɔː_ɡ_ɪ_dʒ]\
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A MORTGAGE that can be transferred from the original borrower to a new purchaser of the underlying property. The assumability feature eliminates the need for the original LOAN to be repaid and a new loan to be arranged, which reduces time and expense factors.
By Henry Campbell Black
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.
Nearby Words
- assuasive
- assubjugate
- assuefaction
- assuetude
- assumable
- ASSUMABLE MORTGAGE
- assumably
- assume
- assumed
- assumed bond
- assumed interest rate