Assuming a loan from a friend... need help!

[Chris Cho]

One of my good friend wants me to take over his loan or buy his property for the loan that is owed. It's a no question about it that it's a good deal.

I was wondering if there was any way I can assume the loan without having to pay in full. I've heard that banks will ask for full payment in 30 days if they find out that you transferred and recorded the deed. And if i did assume the loan what's the risk?

Can anyone help? thanks!