Mortgage Assumption Agreement Template for Pakistan

1. Islamic Finance Compliance: Required when the mortgage follows Islamic banking principles

2. Co-Borrower Provisions: Included when there are multiple assuming parties

3. Property Management: Added when specific property maintenance terms need to be transferred

4. Insurance Requirements: Detailed insurance obligations if different from original mortgage

5. Release of Original Borrower: Included when original borrower is to be fully released from obligations

6. Security Deposits: Required when transfer includes existing tenant security deposits

7. Due Diligence Results: Included when specific property inspections or evaluations need to be referenced

1. Schedule A - Property Description: Detailed legal description of the property including boundaries and registration details

2. Schedule B - Original Mortgage Terms: Key terms from the original mortgage agreement being assumed

3. Schedule C - Payment Schedule: Detailed amortization schedule showing payment dates and amounts

4. Schedule D - Outstanding Balance Statement: Current mortgage balance and any arrears as of assumption date

5. Schedule E - Lender's Requirements: Specific conditions imposed by lender for assumption approval

6. Appendix 1 - Required Documents: List of documents required for mortgage assumption completion

7. Appendix 2 - Property Inspection Report: Current condition of property if required by lender