Finance
In Florida, an 'assumption' of an existing mortgage means the buyer:
ATakes title subject to the mortgage but is not personally liable
BBecomes personally liable for the mortgage debt and takes over payments✓ Correct
CPays off the existing mortgage at closing
DRefinances the property using the existing lender
Explanation
When a buyer 'assumes' a mortgage, they take personal liability for the debt. If they default, the lender can pursue a deficiency judgment against them. By contrast, buying 'subject to' a mortgage means the buyer makes payments but is not personally obligated — only the original borrower remains liable.
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