Definitions for "Assumable"
As applied to mortgage loans, assumable means that a borrower who sells his or her home may transfer the outstanding mortgage loan secured by that dwelling to the new buyers. The new buyers are said to assume the loan.
A mortgage loan which can be transferred to another person without a change in the terms of the loan.
Mortgage-A mortgage, which by its terms, allows a new owner to takeover its obligations.
Keywords:  may
That may be assumed.