Definition: The taking over of another’s debts.
Pronunciation: \ə-ˈsəm(p)-shən
Used in a Sentence: With the assumption of the mortgage, the buyer was obligated for the debt.
Definition: The taking over of another’s debts.
Pronunciation: \ə-ˈsəm(p)-shən
Used in a Sentence: With the assumption of the mortgage, the buyer was obligated for the debt.