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Due on Sale Clause |
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Due on sale clauseA 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.Due on sale clauseStandard language in a mortgage which states that the loan must be paid when a house is sold.Due on Sale ClauseA clause in a mortgage loan which gives the lender the right to demand payment in full when the property changes ownership. Not applicable to FHA or VA loans.Due on Sale Clause Similar MatchesMarket out clauseMarket out clauseA clause that may appear in an underwriting firm commitment that releases it from its purchase requirement if there are negative securities market developments. Inflation escalator clauseInflation escalator clauseA clause in a contract providing for increases or decreases in inflation depending on fluctuations in the cost of living, production costs, and so forth. Valuation ClauseValuation ClauseStipulates a fixed sum for insured property in the event of loss when included in a marine cargo insurance policy. Escalation ClauseEscalation ClauseA clause in a lease providing for an increased rental at a future time. May be accomplished by several types of clauses, such as (1) Fixed increase - A clause which calls for a definite, periodic rental increase. (2) Cost of living - A clause which ties the rent to a government cost of living index, with periodic adjustments as the index changes. (3) Direct expense - The rent is adjusted according to changes in the expenses of the property paid by the lessor, such as tax increases. increased maintenance costs, etc. Safeguards ClauseSafeguards ClauseArticle XIX of the GATT that permits countries to restrict imports if they cause injury. Restrictions must be for a limited time and nondiscriminatory. See escape clause. Further SuggestionsGrandfather clauseAcceleration clause Escape clause Alienation clause Sunset clause Enabling Clause Acceleration Clause Claused Bill of Lading "Subject To" Clause Escalator clause Penalty clause Negative pledge clause Assumption clause Incontestability clause Acceleration clause non forfeiture clause No Bonus Clause Hedge clause S Safety Clause Grandfather clause Multicurrency clause Release clause Cancellation Clause After acquired clause |
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