Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Assumption Assumption November 9, 2021 The transfer of the seller’s existing mortgage to the buyer. See assumable mortgage.You Might Also Like: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language