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.

See Acceleration Clause.

A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage upon sale or transfer of ownership of the property used to secure the mortg [..]

Definition A provision in a mortgage enabling the lender to demand full repayment if the borrower sells the mortgaged property.

Provision in a mortgage or deed of trust allowing the lender to demand immediate payment of the loan balance upon sale of the property.

A provision of a loan contract that stipulates that if the property is sold the loan balance must be repaid. This bars the seller from transferring responsibility for an existing loan to the buyer [..]

A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the entire balance of the mortgage if the mortgage holder sells the home.

A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the borrower sells the home.

A provision in a mortgage or deed of trust that requires the loan is paid in full if a property is a tract of land sold or transferred.

A provision in a mortgage or deed of trust, which requires the loan to be paid in full if a property is sold or transferred.

Provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the mortgage holder sells the home.

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.