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OK.gov. Oklahoma Real Estate Commission Oklahoma Real Estate Commission ... order to keep the changes you make to these documents you will need either Adobe ... Assumption of Loan (11/2015) ... Conditioned

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What is assumption of loan?

Assumption of loan is when a new borrower takes over an existing loan from the original borrower, agreeing to repay the loan under the same terms.

Who is required to file assumption of loan?

The new borrower who is taking over the loan is required to file assumption of loan.

How to fill out assumption of loan?

To fill out assumption of loan, the new borrower needs to provide their personal and financial information, along with agreeing to the terms of the existing loan.

What is the purpose of assumption of loan?

The purpose of assumption of loan is to allow a new borrower to take over an existing loan, relieving the original borrower of responsibility.

What information must be reported on assumption of loan?

The assumption of loan must include details of the new borrower, their financial information, and agreement to repay the loan.

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