• Tools and Templates

Disaster Recovery Small Rental Rehabilitation Assignment/Assumption Agreement

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Date Published: March 2013

Description

The Assignment/Assumption Agreement is executed if and when a small rental landlord decides to sell their property prior to the end of the compliance period to a new owner. A Community Development Block Grant Disaster Recovery (CDBG-DR) Grantee may utilize this framework to develop an Agreement that assigns the program requirements outlined in a covenant, deed of trust and/or loan documents.

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Grant Type: CDBG-DR
Program Area: Small Rental Rehabilitation
Topic: Contract ManagementPolicies and Procedures/Process Mapping
Phase: Implementation
Disaster Year: Not Specific

Disclaimer: All peer approved resources shared on the HUD Exchange have been provided by the organization that developed them. The documents have not been reviewed by HUD or its contractors for applicability, legality, or compliance with federal statutory and regulatory guidelines. The posting of these documents on the HUD Exchange is not intended as an endorsement of the documents by HUD or any of its contractors.

Please bear in mind that these documents were created by organizations based on their specific needs and objectives, and they may reflect local laws and policies. Grantees and their partners should go through their own process to develop policies and corresponding procedures that are appropriate locally and that are compliant with federal, state, and local law.

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  • ICF
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  • Peer Approved