Assumption Clause
Legal definition for Indian law research
Definition
Assumption clause, means a mortgage provision that prohibits another from assuming the mortgage without the permission of the mortgagee. A provision by which the transferee of an instrument agrees to assume an obligation of the transferor, Black Law Dictionary 7th Edn., p. 121.
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.