|
|
Due on Sale Clause |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
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 MatchesNo Bonus ClauseNo Bonus ClauseA clause under the eminent domain section of a lease, giving the lessee the right to recover only the value of his physical improvements in the event of a taking, and not the value of the leasehold interest (the difference between the fixed rent of the lease and current market rental value). Not applicable in all states. Sunset clauseSunset clauseA provision within a piece of legislation providing for its demise on a specified date unless it is deliberately renewed. Alienation clauseAlienation clauseA provision that requires the borrower to pay the balance of the loan in a lump sum after the property is sold or transferred. Acceleration clauseAcceleration clauseA contract stating that the unpaid balance becomes due and payable if specific actions transpire, such as failure to make interests payments on time. S Safety ClauseS Safety ClauseA clause in a listing protecting the broker from having buyer and seller wait until the listing expires to make a deal, thereby avoiding the payment of commission. The clause states that if the property is sold during a specified period after the expiration of the listing (or any extension thereof) to a buyer provided during the listing period by the broker, the commission shall be paid. Further SuggestionsPenalty clauseEscalation Clause "Subject To" Clause Grandfather clause Grandfather clause After acquired clause Escape clause Escalator clause Acceleration clause Valuation Clause Inflation escalator clause Multicurrency clause Safeguards Clause Market out clause Assumption clause Incontestability clause Release clause Enabling Clause Acceleration Clause non forfeiture clause Claused Bill of Lading Hedge clause Cancellation Clause Negative pledge clause |
|
|
|