Exam term

Due-on-sale clause

A loan provision letting the lender demand full payment when the property is transferred, which can limit assumptions and other existing-loan transfers.

Lessons that use this term

Promissory notes, deeds of trust, and mortgages California
Types of loans: fixed, adjustable, junior, seller-carried, and all-inclusive California
Mortgage clauses: acceleration, due-on-sale, prepayment, defeasance, and subordination Florida
Buying mortgaged property (subject to, assumption) and other types of financing Florida
The mortgage and note, the mortgagor's duties, selling mortgaged property, and recording New York
Methods and sources of financing: mortgage and seller financing, primary and secondary markets Texas