Due-on-sale clause

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Due-on-sale clause

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.

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However, most loans from institutional lenders will have a due-on-sale clause which will necessitate the lender's consent prior to consummating the transaction.

Alternative methods of structuring real estate acquisition in a tight ... by Mashian, Bryan / Los Angeles Business Journal

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