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What does assumable mean?

Looking for the meaning or definition of the word assumable? Here's what it means.

Adjective
  1. Capable of being assumed, or taken to be true.
  2. Capable of being assumed, or taken on.
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Examples
It is also assumable that half of the assets go to the wife.
However, according to the German response to the 2002 Questionnaire, the transfer of a function that is solely assumable on a voluntary basis does not seem to be the most efficient solution.
The property is being offered for sale without a formal asking price and is subject to in-place assumable financing.
This may be an inappropriate time to think about the value of assumable financing.
Assumability is attractive if interest rates are higher when you sell than when you bought because an assumable mortgage then increases the value of your home.
A helpful government policy would be, for a small premium, to make loans assumable, thus allowing a future seller to pass on low rates, and thus maybe avoid a collapse.

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