Finance
Vermont's 'assumption of mortgage' means the buyer takes over which obligation from the seller?
AOnly the property tax obligation
BThe existing mortgage debt, becoming personally liable for payments under the original loan terms✓ Correct
CThe seller's personal credit obligations
DThe title insurance policy
Explanation
When a buyer assumes a Vermont mortgage, they take on personal liability for the existing mortgage debt and must make payments per the original loan terms. Most modern conventional mortgages have 'due on sale' clauses that prevent assumption without lender approval.
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