Pronunciation: [ɐsˈuːməbə͡l] (IPA) 
The word "Assumable" is spelled with two "s"s, two "u"s, one "m", one "a", one "b", one "l", and one "e". The IPA phonetic transcription of this word is /əsjuːməbəl/. The first syllable is pronounced as "uh-syoo", while the second syllable is pronounced as "muh-buhl". The stress is on the second syllable, making it the strongest sound in the word. "Assumable" means that something is capable of being assumed or taken on.
Assumable is an adjective that describes something, typically a mortgage loan or a lease, that can be transferred to another individual or party. In the context of a mortgage, an assumable loan allows a new borrower to take over the existing loan terms and conditions from the original borrower. This means that the new borrower agrees to be responsible for all remaining payments, interest rates, and terms associated with the loan. The lender must approve the transfer of the loan and the new borrower must meet certain criteria, such as demonstrating creditworthiness and the ability to make repayments.
Assumable leases, on the other hand, refer to rental agreements that can be transferred to another party. This happens when the current lessee wishes to terminate the lease before its expiration date, and finds another individual willing to take over the lease contract. The new tenant assumes all obligations and responsibilities stated in the original lease, including rent payments and other terms and conditions. Landlord's approval is usually required for such transfers to take place.
The concept of assumable is advantageous for individuals looking to assume a loan or lease, as it provides them with the opportunity to potentially secure better terms or to access a property or asset that they may not have been able to obtain otherwise.
That may be assumed.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word assumable is derived from the verb assume. The term assume originated from the Latin verb assumere, which combines ad (meaning to or towards) with sumere (meaning to take or to assume). In English, assume entered the language around the early 15th century. The suffix -able is added to assume to form the adjective assumable, meaning capable of being assumed or able to be taken on.
