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assume
(redirected from assumable)

   Also found in: Dictionary/thesaurus, Legal 0.01 sec.
*low profile
Fig. a persona or character that does not draw attention. (*Typically: assume ~; have ~; keep ~; give oneself ~.) I try to be quiet and keep a low profile. It's hard because I just love attention.
See also: low, profile

assume liability for something

to accept the responsibility for paying a cost. Mr. Smith assumed liability for his son's student loans. The store assumed liability for the injured customer's hospital bills.


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? References in periodicals archive
875 million, 10-year assumable mortgage at an interest rate of 5.
Robert Flaxman, president and chief executive of Crown Realty, said the deal carried "$19 million in assumable financing" at rates lower than now available, which he anticipated would help spur a deal.
Other contracts, such as equipment leases, maintenance contracts and the like, may also contain clauses providing for their termination upon assignment, or may not be assumable or assignable.
 
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