The clause that specifies that if the property is sold or transferred to another person, the mortgage becomes immediately due and payable.
The act of transferring rights in real property. Sometimes used to identify the clauses in a mortgage that allows the lender to declare the balance due and payable if the mortgaged property is sold.
A type of acceleration clause in a loan, calling for payment of the entire principal balance in full, triggered by the sale or transfer of a property.
A provision in a mortgage document that states that a loan needs to be paid, in full, if ownership of the property is transferred.
A term of a mortgage which requires that the borrower pay in full the principal and interest due upon the sale of the property. ( See Acceleration or Due-on-Sale Clause)
A clause in a mortgage or deed of trust that gives the lender the right to declare the entire remaining debt due and payable immediately, should the borrower sell the property. This clause restricts the sale of a property, and prevents a borrower from assigning debt without the lenderâ€(tm)s approval.
A clause in a contract giving the lender certain rights in the event of a sale or other transfer of mortgaged property.
A provision in a promissory note or mortgage calling for immediate full payment of the debt if the mortgaged property is sold. Such a provision effectively prevents sales by assumption or land contract.
A provision often included in a mortgage or deed of trust that legally permits the lender (mortgagee) to demand payment of all the outstanding principal if the property is sold or transferred by the borrower (mortgagor). Such a provision is also commonly known as a due-on-sale clause.
The clause in a mortgage or deed of trust that states that the balance of the secured debt becomes immediately due and payable at the lender's option if the property is sold by the borrower. In effect this clause prevents the borrower from assigning the debt without the lender's approval.
A type of acceleration clause calling for a debt secured by a mortgage or deed of trust to be due in its entirety upon transfer of ownership of the secured property. Also called a due on sale clause.
a provision stating that a mortgage loan must be paid in full if the ownership is transferred.
A clause that establishes that if a loan is transferred or a property sold, the loan must be paid in full.
A clause in a promissory note or mortgage which provides that the balance of the secured debt becomes immediately due and payable at the option of the mortgagee upon the alienation of the property by the mortgagor.
A provision in a note and deed of trust calling for automatic maturity at the lender's option in the vent of sale or transfer of the real property to a third party; also called due-on-sale clause.
A clause within a loan instrument calling for a debt in its entirety upon the transfer of ownership of the secured property. Also called a "due on sale" clause.
A type of acceleration clause that demands payment of the entire balance upon sale or other transfer of title; also called a "due-on-sale" clause.
Provision in a mortgage document stating that the loan must be paid in full if ownership is transferred.
A term of a mortgage which allows the creditor to demand payment in full of principal and interest due upon the sale of the property.
A provision in a document giving a person the right to transfer or forbidding him from transferring the property which is the subject of the document.
A clause in a Note and Trust Deed permitting the payee to declare the entire unpaid balance immediately due and payable upon subsequent transfer of the property. Also referred to as a “Due On Sale” clause.
This is a clause in a mortgage that states the entire balance of the loan becomes immediately due if the property is sold.
A clause in the deed of trust which states that upon sale or transfer of certain property, a loan is immediately due and payable. See Due on Sale
A provision that requires the borrower to pay the balance of the loan in a lump sum after the property is sold or transferred.
A clause in a mortgage, which gives the lender the right to call the entire loan balance due if the property is sold, also known as a due-on-sale clause.
In a deed of trust or mortgage, a provision that if the secured property is sold or transferred, the lender has the option of accelerating the loan and declaring the entire unpaid balance immediately due and payable. Also called a "due-on-sale" clause. Back to the Top
A loan provision requiring the borrower to pay the balance of the loan in a lump sum if the property is sold or transferred.
Also known as a "Due on Sale Clause"; it is a clause in a loan document that requires the borrower to payoff the loan when property is sold and title is transferred.
The clause in a mortgage or trust deed which states that the balance of the secured debt becomes immediately due and payable at the mortgagee's option if the property is sold by the mortgagor. In effect, this clause prevents the mortgagor from assigning the debt without the mortgagee's approval. allocation of customers or markets See ANTI-TRUST LA WS.
A clause in a mortgage contract that calls for payment of the loan in full upon the transfer of ownership of the property.
This clause stipulates that the borrower must pay the mortgage in full upon transfering the property.
The clause in a mortgage or deed of trust which asserts the lender's option to require that the balance of the secured debt becomes immediately due and payable if the property is sold by the borrower, preventing the borrower from assigning the debt withou
A requirement that the borrower pay the mortgage in full upon transfer of the property.
A mortgage provision requiring that the balance of that loan be repaid in full if the property is sold or transferred.