DEFINITION of 'Transfer Of Physical Assets - TPA'
A type of property sale that requires the assumption of a HUD-sponsored loan. A transfer of physical assets (TPA) can require many other forms to be completed, such as the Assumption of Housing Assistance Payments (HAP) contract. TPAs pertain only to HUD loans and are not applicable to commercial loans.
BREAKING DOWN 'Transfer Of Physical Assets - TPA'
Transactions that do not involve a complete change in ownership are known as modified transfers of physical assets. This type of transaction can include a transfer of more than 50% of a property's value that does not dissolve the current mortgagor or partnership. General partners in property ownership can also be exchanged under a MTPA.