Ƶ

Assumption Of Mortgage Form Template for Saudi Arabia

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Assumption Of Mortgage Form

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Assumption Of Mortgage Form

"I need an Assumption of Mortgage Form for a residential property in Riyadh, where my brother will take over my existing Islamic mortgage from Al Rajhi Bank starting March 1, 2025, with remaining balance of 800,000 SAR."

Document background
The Assumption Of Mortgage Form is a crucial document in Saudi Arabian real estate transactions where an existing mortgage is transferred to a new borrower. This document is typically used when a property is being sold but has an existing mortgage that the buyer wishes to take over, or in cases of family transfers or business restructuring. The form must comply with the Real Estate Finance Law of 2012, SAMA regulations, and Sharia principles that govern Islamic finance in Saudi Arabia. It includes detailed information about the property, original mortgage terms, assuming party's credentials, payment obligations, and lender's approval. The document serves as both a legal record of the transfer and a binding agreement that protects all parties' interests while ensuring regulatory compliance.
Suggested Sections

1. Parties: Identifies the original borrower (transferor), the assuming party (transferee), and the lender/financial institution

2. Background: Brief context about the original mortgage, property, and reason for assumption

3. Definitions: Key terms used throughout the document, including Property, Original Mortgage, Assumption Date, etc.

4. Property Details: Complete legal description of the mortgaged property, including title deed number and location

5. Original Mortgage Information: Details of the original mortgage being assumed, including registration number and outstanding balance

6. Terms of Assumption: Core terms of the mortgage assumption, including payment amounts, schedule, and conditions

7. Transferee's Acknowledgments: Assuming party's confirmation of understanding and accepting all mortgage obligations

8. Transferor's Representations: Original borrower's declarations regarding the mortgage status and property condition

9. Lender's Consent: Financial institution's formal approval of the assumption and any conditions attached

10. Effective Date and Closing: When the assumption takes effect and closing requirements

11. Governing Law: Confirmation of Saudi law application and Sharia compliance

Optional Sections

1. Co-Signer Details: Include when there is a co-signer or guarantor for the assuming party

2. Property Management: Include when there are specific property management arrangements during transition

3. Insurance Requirements: Include when there are special insurance requirements beyond standard coverage

4. Down Payment Terms: Include when the assuming party is making a down payment to the original borrower

5. Special Conditions: Include when there are unique circumstances or additional requirements from the lender

6. Default Remedies: Include when specific default remedies differ from standard mortgage terms

Suggested Schedules

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

2. Schedule B - Payment Schedule: Detailed breakdown of payment amounts, dates, and amortization schedule

3. Schedule C - Original Mortgage Document: Copy of the original mortgage agreement being assumed

4. Schedule D - Property Inspection Report: Current condition report of the property at time of assumption

5. Appendix 1 - Required Documents Checklist: List of all documents required for mortgage assumption completion

6. Appendix 2 - Regulatory Compliance Certificate: Confirmation of compliance with Saudi regulations and Sharia requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
































Clauses



































Relevant Industries

Banking & Financial Services

Real Estate

Islamic Finance

Legal Services

Property Development

Mortgage Services

Construction

Housing Development

Property Investment

Relevant Teams

Legal

Real Estate

Mortgage Services

Islamic Banking

Compliance

Risk Management

Property Management

Documentation

Customer Services

Financial Advisory

Relevant Roles

Mortgage Officer

Real Estate Lawyer

Property Manager

Financial Advisor

Islamic Finance Specialist

Real Estate Agent

Loan Officer

Legal Counsel

Compliance Officer

Property Developer

Banking Manager

Real Estate Transaction Manager

Risk Assessment Officer

Documentation Specialist

Property Investment Advisor

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Loan Agreement Letter

A Sharia-compliant Loan Agreement Letter under Saudi Arabian law that establishes the terms and conditions of a loan while adhering to Islamic finance principles and Saudi banking regulations.

find out more

Agreement To Repay Debt

A Sharia-compliant debt repayment agreement under Saudi Arabian law, documenting debt acknowledgment and repayment terms between creditor and debtor.

find out more

Loan Restructuring Agreement

A Sharia-compliant agreement under Saudi Arabian law that modifies existing loan terms to accommodate changed circumstances while ensuring compliance with Islamic finance principles and local regulations.

find out more

Term Loan Facility Agreement

Saudi Arabian law-governed term loan facility agreement compliant with Shariah principles, detailing lending terms and conditions under Islamic finance structures.

find out more

Simple Mortgage Agreement

A Shariah-compliant mortgage agreement under Saudi Arabian law establishing security interest over real property with associated financing terms and conditions.

find out more

Loan Agreement Between Companies

A Sharia-compliant corporate loan agreement for use between companies in Saudi Arabia, incorporating local legal requirements and Islamic finance principles.

find out more

Loan Repayment Contract

A Sharia-compliant loan repayment agreement under Saudi Arabian law that structures the terms and conditions for loan repayment while ensuring compliance with Islamic financial principles.

find out more

House Loan Contract

A Sharia-compliant house loan contract under Saudi Arabian law, establishing terms for home financing while adhering to Islamic banking principles and local regulations.

find out more

Flexi Finance Loan Agreement

Shariah-compliant flexible financing agreement template for Saudi Arabian jurisdiction, incorporating Islamic banking principles and local regulatory requirements.

find out more

Debt Agreement Contract

A Shariah-compliant debt agreement under Saudi Arabian law establishing terms and conditions for lending arrangements between parties.

find out more

Contract For Land Purchase

A Saudi Arabian law-compliant contract for the purchase and sale of land property, incorporating all necessary terms and conditions under local regulations and Sharia principles.

find out more

Deed Of Assumption Of Mortgage Car

A Saudi Arabian legal document facilitating the transfer of vehicle mortgage obligations between parties while ensuring Sharia compliance.

find out more

Loan Novation Agreement

A Saudi Arabian law-governed agreement that transfers loan obligations between parties while ensuring Shariah compliance.

find out more

Individual To Individual Loan Agreement

A Sharia-compliant individual-to-individual loan agreement template governed by Saudi Arabian law, facilitating private lending arrangements while ensuring compliance with Islamic financial principles.

find out more

Loan Participation Agreement

A Saudi Arabian law-governed agreement establishing rights and obligations in a Sharia-compliant loan participation arrangement between financial institutions.

find out more

Loan Agreement Term Sheet

A Saudi Arabian law-governed term sheet outlining key terms for Shariah-compliant financing arrangements, serving as the basis for detailed facility documentation.

find out more

No Loan Agreement

A Sharia-compliant financial agreement under Saudi Arabian law that structures monetary arrangements without traditional lending elements.

find out more

Mortgage Loan Contract

A Shariah-compliant mortgage loan agreement under Saudi Arabian law, establishing financing terms and property security arrangements in compliance with SAMA regulations.

find out more

Securities Lending Agreement

A Saudi Arabian law-governed agreement establishing terms for securities lending transactions, incorporating CMA regulations and Shariah compliance requirements.

find out more

Money Repayment Agreement

A Sharia-compliant agreement under Saudi Arabian law establishing terms for monetary debt repayment between parties.

find out more

Loan Surety Agreement

A Sharia-compliant guarantee agreement under Saudi Arabian law where a guarantor commits to fulfilling a borrower's obligations to a lender in case of default.

find out more

Loan Reinstatement Agreement

A Sharia-compliant agreement under Saudi Arabian law that reinstates a defaulted loan, establishing new payment terms and conditions between lender and borrower.

find out more

Lending Contract

A Sharia-compliant lending agreement under Saudi Arabian law, establishing terms for financial transactions in accordance with Islamic finance principles and local regulations.

find out more

Lending Agreement

A Sharia-compliant financing agreement under Saudi Arabian law that establishes terms and conditions for lending between parties.

find out more

Lenders Agreement

A Saudi Arabian law-governed financing agreement establishing Shariah-compliant lending terms and conditions between financial institutions and borrowers.

find out more

Lender And Borrower Agreement

A Sharia-compliant financing agreement under Saudi Arabian law establishing terms and conditions between lender and borrower, including profit rates, security, and payment terms.

find out more

Home Loan Agreement

A Sharia-compliant home financing agreement under Saudi Arabian law, detailing terms, conditions, and security arrangements for property purchase financing.

find out more

Finance Agreement

A Sharia-compliant financing agreement under Saudi Arabian law establishing terms for Islamic financing arrangements and regulatory compliance.

find out more

Forbearance Agreement Commercial Loan

A Shariah-compliant agreement under Saudi Arabian law that temporarily suspends a lender's enforcement rights against a defaulting commercial borrower while establishing new compliance terms.

find out more

Education Loan Agreement

A Sharia-compliant Education Loan Agreement under Saudi Arabian law, establishing terms for educational financing between a financial institution and student borrower.

find out more

Debt Agreement Letter

A Sharia-compliant Debt Agreement Letter under Saudi Arabian law that documents debt obligations and repayment terms between parties.

find out more

Credit Agreement Contract

A Shariah-compliant credit agreement under Saudi Arabian law establishing terms for credit facilities between lender and borrower.

find out more

Contract Of Loan With Real Estate Mortgage

A Sharia-compliant loan agreement secured by real estate mortgage under Saudi Arabian law, combining financing terms with property security arrangements.

find out more

Assumption Of Mortgage Form

A Saudi Arabian legal document that transfers mortgage obligations from an existing borrower to a new party, compliant with local laws and Sharia principles.

find out more

Mortgage Note Purchase Agreement

A Sharia-compliant agreement for the purchase and sale of mortgage notes in Saudi Arabia, conforming to Saudi banking regulations and Islamic finance principles.

find out more

Personal Loan Agreement With Notary

A notarized personal loan agreement under Saudi Arabian law, establishing Sharia-compliant terms between a lender and borrower with official authentication.

find out more

Loan Against Rent Agreement

A Saudi Arabian Shariah-compliant agreement facilitating property owner financing secured against rental income streams.

find out more

Credit Agreement Between Two Parties

A Shariah-compliant credit agreement under Saudi Arabian law establishing terms for credit extension between two parties.

find out more

Installment Loan Contract

A Sharia-compliant installment loan agreement under Saudi Arabian law, establishing terms for financing and repayment in accordance with Islamic principles and Saudi banking regulations.

find out more

Agreement For Mortgage Of Property

A Sharia-compliant property mortgage agreement under Saudi Arabian law, establishing security interest over real property while adhering to Islamic finance principles and local regulations.

find out more

Money Agreement Letter

A Sharia-compliant monetary arrangement document under Saudi Arabian law that establishes terms for lending/borrowing funds between parties.

find out more

Loan Agreement Shareholder To Company

A Shariah-compliant shareholder loan agreement under Saudi Arabian law, documenting terms for company funding while ensuring compliance with Islamic finance principles.

find out more

Guarantee In Loan Agreement

A Sharia-compliant guarantee agreement under Saudi Arabian law establishing guarantor obligations in support of a loan agreement.

find out more

Car Loan Contract Between Friends

A Sharia-compliant car loan agreement between friends under Saudi Arabian law, formalizing vehicle financing terms while maintaining friendly relations.

find out more

Loan Agreement Between Lender Borrower And Guarantor

A Sharia-compliant loan agreement under Saudi Arabian law establishing terms between lender, borrower, and guarantor, with complete financing and security provisions.

find out more

Cash Advance Loan Agreement

A Sharia-compliant loan agreement under Saudi Arabian law for providing immediate funding, detailing advance amount, repayment terms, and administrative fees.

find out more

Debt Agreement Form

A Sharia-compliant Debt Agreement Form for use in Saudi Arabia, establishing terms for legal and Islamic-compliant debt arrangements.

find out more

Loan Vehicle Sale Agreement

A Sharia-compliant vehicle sale and financing agreement under Saudi Arabian law, combining vehicle purchase terms with Islamic financing arrangements.

find out more

Digital Loan Agreement

Saudi Arabian digital loan agreement template combining Islamic finance principles with digital banking requirements.

find out more

Consent Letter For Loan Guarantor

A Saudi Arabian legal document where a guarantor formally consents to guarantee a loan, complying with local laws and Sharia principles.

find out more

Loan Subordination Agreement

A Saudi Arabian law-governed agreement establishing priority arrangements between creditors in a Sharia-compliant lending structure.

find out more

Hard Money Loan Contract

A Sharia-compliant real estate-backed loan agreement under Saudi Arabian law, structured for rapid financing while maintaining Islamic finance principles.

find out more

Mortgage Extension Agreement

A Sharia-compliant agreement under Saudi Arabian law that extends the term of an existing mortgage, modifying its maturity date and related terms.

find out more

Mortgage Contract Agreement

A Shariah-compliant Mortgage Contract Agreement under Saudi Arabian law, establishing property financing terms and security rights between mortgagor and mortgagee.

find out more

Employment Promissory Note

A Sharia-compliant promissory note under Saudi law documenting an employee's financial obligation to their employer.

find out more

Employee Loan Promissory Note

A Sharia-compliant promissory note under Saudi Arabian law documenting an employer-provided loan to an employee with salary deduction arrangements.

find out more

Revolving Agreement

A Sharia-compliant revolving facility agreement under Saudi Arabian law, enabling multiple drawdowns and repayments within an agreed limit.

find out more

Loan Syndication Agreement

Saudi Arabian law-governed syndicated loan agreement incorporating Islamic finance principles and SAMA regulations.

find out more

Share Mortgage Agreement

A Saudi Arabian law-governed security agreement creating a pledge over shares to secure financial obligations, compliant with local commercial and Islamic law requirements.

find out more

Refinance Agreement

A Sharia-compliant agreement under Saudi Arabian law documenting the restructuring of an existing financing facility with new terms and conditions.

find out more

Personal Loan Contract Between Friends

A Sharia-compliant personal loan agreement between friends under Saudi Arabian law, documenting interest-free lending terms and conditions.

find out more

Loan Agreement Between Parent Company And Subsidiary

Saudi Arabian-compliant loan agreement template for parent-subsidiary financing arrangements, incorporating both commercial and Shariah law requirements.

find out more

Credit Facility Agreement

Saudi Arabian law-governed agreement establishing Shariah-compliant credit facility terms between a financial institution and borrower.

find out more

Mortgage Purchase Agreement

A Sharia-compliant agreement under Saudi Arabian law governing the purchase and transfer of mortgage rights between financial institutions or eligible parties.

find out more

Promissory Note Loan Agreement

A Shariah-compliant loan agreement with promissory note under Saudi Arabian law, combining Islamic finance principles with conventional lending structures.

find out more

Internal Loan Agreement

A Shariah-compliant internal loan agreement under Saudi Arabian law governing financial arrangements between entities within the same corporate group.

find out more

Consent To Mortgage Form

A Saudi Arabian legal document evidencing property owner's consent to create a Shariah-compliant mortgage in favor of a financial institution.

find out more

Mortgage Modification Agreement

A Shariah-compliant agreement modifying existing mortgage terms under Saudi Arabian law and banking regulations.

find out more

Mortgage And Security Agreement

A Shariah-compliant mortgage and security agreement under Saudi Arabian law, creating security interests in real property to secure financial obligations.

find out more

Project Finance Loan Agreement

A Shariah-compliant project finance loan agreement under Saudi Arabian law, establishing terms for project financing including facility details, security arrangements, and party obligations.

find out more

Loan Receipt Agreement

A Shariah-compliant document under Saudi Arabian law evidencing the receipt of loan funds and establishing repayment terms between lender and borrower.

find out more

Equipment Loan Form

A Sharia-compliant equipment loan agreement under Saudi Arabian law, establishing terms and conditions for temporary equipment transfer between parties.

find out more

Rollover Loan Agreement

A Saudi Arabian law-governed Islamic revolving facility agreement enabling multiple drawdowns and rollovers in compliance with Shariah principles.

find out more

Drawdown Loan Agreement

A Shariah-compliant loan facility agreement under Saudi Arabian law, establishing terms for sequential drawdown of funds with Islamic finance principles.

find out more

Loan Settlement Agreement

A Saudi Arabian law-governed agreement that documents the terms for settling an existing loan obligation, ensuring compliance with both civil law and Sharia principles.

find out more

Personal Loan Promissory Note

A Shariah-compliant promissory note for personal loans in Saudi Arabia, structured according to Saudi banking regulations and Islamic finance principles.

find out more

Loan Extension Agreement

A Saudi Arabian law-governed agreement extending an existing loan's term while maintaining Sharia compliance and updating relevant terms and conditions.

find out more

Installment Purchase Agreement

A Saudi Arabian law-governed agreement for asset purchase through installment payments, ensuring Sharia compliance and consumer protection.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.