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Debt assumption
In the case of a debt assumption, the previous borrower withdraws from the loan agreement, while a new borrower steps in. This process requires the consent of all contracting parties. A debt assumption can only take place by means of a notarized contract or the notarization of a contract. It is usually possible without any problems, provided that the creditworthiness of the new borrower is at least as good as that of the previous one.