Document background
The Deed of Sale with Assumption of Mortgage is a specialized legal instrument used in Swiss real estate transactions where the buyer takes over the seller's existing mortgage instead of obtaining new financing. This document type is particularly relevant when the existing mortgage terms are favorable or when parties wish to avoid the costs and complexity of new financing arrangements. The deed must comply with strict Swiss legal requirements, including notarization and registration in the cantonal land register. It combines elements of a standard property sale agreement with specific provisions for mortgage assumption, making it a complex document that requires careful drafting to ensure all legal requirements are met. The document typically includes detailed information about the property, existing mortgage terms, transfer conditions, and parties' obligations, while ensuring compliance with both federal and cantonal regulations governing property transfers and mortgage assumptions.
