by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Agreement by a buyer to assume the liability under an existing note secured by a mortgage or deed of trust. In real estate, an assumption refers to a buyer taking over the seller’s existing mortgage loan instead of obtaining a brand-new loan, meaning the buyer agrees...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Those to whom property or interests therein shall have been transferred. An assignee is the person or entity that receives and takes over another party’s rights under a contract through an assignment. For example, if a buyer under a purchase agreement assigns the...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
One who assigns or transfers property. In real estate contract law, an assignor is the person or entity that transfers their rights and, in some cases, their obligations under a contract to another party through an assignment. For example, if a buyer under a purchase...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An assignment is a transfer to another of any property, real or personal, or of any rights or estates in said property. In real estate contract law, an assignment is the transfer of a party’s rights and obligations under a contract to another person or entity. This...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An area whose boundaries are set for tax assessment purposes only. An assessment district is a defined geographic area where property owners are charged an additional fee or tax to help pay for specific public improvements or services that benefit that area. These...
