Due-on-sale clause

Due-on-sale Clause
Due-on-sale Clause definition :
A mortgage contract clause stipulating that the borrower pay off the full remaining principal on a mortgage if the mortgaged property is sold before the mortgage is paid off.

due-on-sale clause
provision in a conventional mortgage requiring payment of the unpaid loan balance if the property is sold.

DUE-ON-SALE CLAUSE - A provision of a loan contract that stipulates that if the property is sold the lo...
DUE-ON-SALE CLAUSE (VA) - A provision in a mortgage or deed of trust that allows the lender to demand i...

Due-on-Sale Clause - A provision in a mortgage or deed of trust which requires the loan to be paid in full if a property is sold or transfered.

DUE-ON-SALE CLAUSE A clause allowing the lender to demand payment of the entire loan balance upon sale or other transfer of title by the borrower to a third party.

Due-On-Sale Clause
A provision in a mortgage that allows the lender to demand repayment of a loan in full if the borrower sells the property that serves as security for the mortgage.

Due-on-sale clause - A provision in the mortgage that states that the entire balance of the note is immediately due and payable if the mortgagor transfers (sells) the property.
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due-on-sale clause
A provision in a mortgage permitting the lender to demand payment in full when the property is sold.
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Due-on-sale clause
A mortgage contract clause stipulating that the borrower to pay off the full remaining principal on a mortgage if the mortgaged property is sold before the mortgage is paid off.
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Due-on-sale Clause
A mortgage condition or clause that states the loan must be paid in full when the property is sold. Commonly used in reverse mortgage lending.

Some mortgages contain a due-on-sale clause, which means that the mortgage may not be transferable to a new buyer. Instead, the lender may make you pay the entire balance that is due when you sell the home.

In addition to interest rate ceilings on mortgages, the due-on-sale clause in mortgage contracts was not uniformly enforceable until 1982. Before, borrowers could transfer their lower-interest-rate mortgages to new homeowners when property was sold.

Meeting legally required to be held by an underwriter to enable brokers to question a new issuer about an upcoming issue.
Due-on-sale clause ...

due-on-sale clause A provision in a mortgage enabling the lender to demand full repayment if the borrower sells the mortgaged property.

See also: Banks, Expense, Deed of Trust, Checking account, Bills