assumable Definition
able to be taken on or adopted, especially a debt or a mortgage.
Using assumable: Examples
Take a moment to familiarize yourself with how "assumable" can be used in various situations through the following examples!
Example
The loan is assumable by the new owner of the property.
Example
The lease agreement is not assumable by any other party.
Example
The mortgage on the house is assumable by the buyer.
assumable Synonyms and Antonyms
Synonyms for assumable
Antonyms for assumable
- nonportable
- nontransferable
Phrases with assumable
a type of mortgage that can be transferred from the seller to the buyer of a property
Example
The seller offered an assumable mortgage to attract more buyers.
Example
The company was acquired with all its assumable debts and liabilities.
non-assumable
not able to be taken on or adopted by another person or entity
Example
The contract explicitly stated that it was non-assumable.
Origins of assumable
from assume + -able
Summary: assumable in Brief
'Assumable' [əˈsuːməbl] refers to something that can be taken on or adopted, especially a debt or a mortgage. It is often used in real estate transactions, such as 'The loan is assumable by the new owner of the property.' 'Assumable' has synonyms like 'transferable' and 'portable,' and is the opposite of 'nontransferable' and 'nonportable.' Phrases like 'assumable mortgage' and 'assumable debt' denote specific types of financial agreements.
