„OECD Glossary of Statistical Terms - Debt assumption Definition
Definition:
Debt assumption is a special form of debt refinancing, involving three parties—the creditor, the original debtor, and a new debtor who assumes the debt obligation.
A debt assumption involves two simultaneous transactions; the first transaction cancels the original debtor’s obligation, and the second transaction creates a new debt contract between the creditor and the new debtor, or assumer.
The first transaction is classified as a capital transfer (as in the case of debt forgiveness), and the second transaction involves the creditor’s acquisition of the new debt instrument issued by the assumer. Any write-down of asset value by the creditor is recorded in the revaluation account.
Context:
The assumption of a debt liability of one entity by another entity, usually by mutual agreement. (IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix III, Glossary, IMF, Washington DC. Available at
http://www.imf.org/external/pubs/ft/eds/Eng/Guide/index.htm. „
( http://stats.oecd.org/glossary/detail.asp?ID=550 )


„FinancialWeb, USA
Understanding Assumptions
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In essence, the assumptor actually steps into the place of the first mortgagor, assuming the repayment of the debt. However, if the assumptor defaults, the original borrower is secondarily liable for paying the remaining balance of the note, but only that amount. „
( http://web.finweb.com/mortgage/understanding-assumptions.htm... )