Hebrew to English translations [PRO]
Law/Patents - Law: Contract(s) / Real estate contract | | Hebrew term or phrase: נכנס בנעלים | | If a property is in development and a party buys an existing interest in that property, they "enter the shoes", meaning it takes on any obligations the selling party had according to the orignal development contract. What is the English term? |
|  Stephen RifkindKudoZ activityQuestions: 70 (none open) ( 1 without valid answers) ( 2 closed without grading) Answers: 38
| | Local time: 06:34
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| | Assumability | Explanation:
to take over the liability for a debt on a promissory note, which is often done by the buyer of real property which has a secured debt upon it. Example: Bob Buyer pays part of the price of a piece of real property by taking over the debt that Sally Seller had on the property. However, usually the original owner to whom Sally owes the debt must agree to the assumption.
See the link. |
| Selected response from:
Lingopro
Israel
Local time: 06:34
| Grading comment Thank you. I modified the answer for the verb form.
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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1 hr confidence:  peer agreement (net): -1
2 hrs confidence: peer agreement (net): +2 Assumability
Explanation:
to take over the liability for a debt on a promissory note, which is often done by the buyer of real property which has a secured debt upon it. Example: Bob Buyer pays part of the price of a piece of real property by taking over the debt that Sally Seller had on the property. However, usually the original owner to whom Sally owes the debt must agree to the assumption.
See the link.
Reference: http://legal-dictionary.thefreedictionary.com/assumability
| Lingopro
Israel
Local time: 06:34
Works in field
Native speaker of:  English, Hebrew
PRO pts in category: 13
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| | Grading comment | Thank you. I modified the answer for the verb form. |
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