Find Real Estate Agents and Homes for Sale

Real Estate Terms and Glossary
Select a Letter Below:
A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z  
Back to Glossary Home

Assignment and Assumption Agreement


Definition: 1) A transfer by mutual agreement of rights, interests, and obligations between sponsoring or ownership entities. 2) A Sponsor which receives an HCD award commitment may create a single-purpose affiliate entity to develop and operate the housing project.