Posted by Bronchick on December 14, 1998 at 13:18:28:
Since a “freely assumable” loan is one which contains no due on sale provision, no one really has to assume obligation for the note (by signing an "assumption agreement). Thus, the trust can sign for the note without the personal liability of the trustee or the beneficiary. I have had some argument with lenders, but challenged them to show me a law that says otherwise. No response.