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Assumable Definition

–adjective
capable of being assumed, as an office or an obligation: Assumable mortgages are hard to find these days.

From Dictionary

Mortgage Definition

–noun
1. a conveyance of an interest in property as security for the repayment of money borrowed.
2. the deed by which such a transaction is effected.
3. the rights conferred by it, or the state of the property conveyed.
–verb (used with object)
4. Law. to convey or place (real property) under a mortgage.
5. to place under advance obligation; pledge: to mortgage one's life to the defense of democracy.

From Dictionary

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