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Due-on-Sale Clause

Definition

In real property law, a provision in a mortgage-secured loan note that gives the lender the right to collect the full amount of the borrower's remaining debt obligation if and when the borrower sells the mortgaged property to a third party.

Related Rules


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French v. BMO Harris Bank, N.A.


Mauris finibus odio eu maximus interdum. Ut ultricies suscipit justo in bibendum. Sed eu magna efficitur, luctus lorem ut, tincidunt arcu. Praesent varius sit amet erat hendrerit placerat. In posuere eget ante id facilisis. Integer semper venenatis felis lacinia malesuada.

Levine v. First National Bank of Commerce