Definition, Meaning & Synonyms

assumability

noun

/əˌsuːməˈbɪlɪti/

Definition

The quality of being assumable or capable of being taken on or accepted by someone else.

Examples

The assumability of the mortgage allowed the buyer to take on the existing loan terms.
Due to its assumability, many people found the contract appealing.

Meaning

Assumability refers to the extent to which rights or responsibilities can be taken over by another party, particularly in financial contexts like loans or insurance policies.