by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
The process by which real or personal property of a party to a lawsuit is seized and retained in the custody of the court for the purpose of acquiring jurisdiction over the property, to compel an appearance before the court, or to furnish security for a debt or costs...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
The taking of a title to property by a grantee wherein grantee assumes liability for payment of an existing note secured by a mortgage or deed of trust against the property, becoming a co-guarantor for the payment of the mortgage or deed of trust note. An assumption...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Lender’s charge for paperwork involved in the processing for a new buyer to assume an existing loan. An assumption fee is a charge a lender may require when a buyer assumes an existing mortgage loan from the seller, and it helps cover the lender’s administrative...
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...
