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Assumption Agreement

A legal document that transfers responsibility for the repayment of a loan from 1 person to another.

You may be asked to provide this document if you’re taking over repayment of a loan or someone is taking over repayment of a loan from you.

Tips for a smoother application process

  • Make sure documents are clear and legible.
  • Don't alter any pages (no strikethroughs, cross-outs, etc.).
  • Send all pages, even the blank ones.