This Mortgage Assumption Agreement releases the original mortgage holder from further obligations. This agreement sets out the names of the original mortgage holder, mortgage lender and the new purchaser of the home. It also contains the date of original mortgage, address and recording information, original principal amount of the mortgage and the principal amount now outstanding as of the assignment date. It is imperative that an assumption agreement of this type be set out in writing. A written Mortgage Assumption Agreement – Original Holder Released will prove valuable in the event of disagreements, misunderstandings or litigation.

This Mortgage Assumption Agreement – Original Holder Released contains the following provisions:

• Parties: Sets out the names and addresses of original mortgage holder, mortgage lender and new mortgage holder;
• Loan Information: Sets out the amount of the loan, date of original promissory note and maturity date;
• New Loan Information: Sets out the amount and date of the new loan;
• Signatures: The original mortgage borrower, mortgage lender and new purchaser must sign this agreement.

Protect yourself, your rights and your property by using our attorney-prepared up-to-date forms.

This attorney-prepared packet contains:

1. General Instructions
2. Mortgage Assumption Agreement (Original Mortgage Holder Released from Further Obligation)

State Law Compliance: This form complies with the laws of all states