Mortgage Assumption Agreement Template for Australia

1. Partial Assumption Provisions: Used when only a portion of the mortgage is being assumed or when multiple borrowers exist and only some are being released

2. Additional Property Provisions: Required when the mortgage covers multiple properties or when only certain properties are subject to the assumption

3. Insurance Requirements: Specific insurance obligations beyond standard requirements

4. Special Payment Arrangements: Used when establishing non-standard payment terms or transitional payment arrangements

5. Cross-Collateralization: Required when the assumed mortgage is linked to other security interests or loans

6. Guarantor Provisions: Included when there are guarantors for the assuming party's obligations

1. Schedule A - Property Description: Detailed legal description of the mortgaged property

2. Schedule B - Original Mortgage Terms: Copy or summary of the original mortgage agreement's key terms

3. Schedule C - Payment Schedule: Detailed payment schedule including amounts, dates, and payment methods

4. Schedule D - Outstanding Balance Statement: Current mortgage balance and any other amounts owing as of the assumption date

5. Schedule E - Lender's Special Requirements: Any specific conditions or requirements imposed by the lender for the assumption

6. Appendix 1 - Required Documents: List of documents required for the assumption process and confirmation of mortgage transfer

7. Appendix 2 - Compliance Certificates: Copies of necessary compliance certificates and regulatory approvals