Is a provision which allows a new buyer of a property to assume or use an existing mortgage provided such buyer is approved by the lender. Found on http://www.oasismanagement.com/glossary/
Agreement by a buyer to assume the liability under an existing note secured by a mortgage or deed of trust. Found on https://www.encyclo.co.uk/local/21390
Is a provision which allows a new buyer of a property to assume or use an existing mortgage provided such buyer is approved by the lender. 
Agreement by a buyer to assume the liability under an existing note secured by a mortgage or deed of trust.