alienation clause

Английский Язык - Английский Язык

Определение alienation clause в Английский Язык Английский Язык словарь: A special type of acceleration clause that demands payment of the entire loan balance upon sale or other transfer of the title See also "Due on Sale Clause"; Clause in a loan document providing for fall payment if the property is sold; A clause in a promissory note or mortgage which provides that the balance of the secured debt becomes immediately due and payable at the option of the mortgagee upon the alienation of the property by the mortgagor; A clause within a loan instrument calling for a debt in its entirety upon the transfer of ownership of the secured property Also called a "due on sale" clause; A mortgage provision requiring that the balance of that loan be repaid in full if the property is sold or transferred; A term of a mortgage which allows the creditor to demand payment in full of principal and interest due upon the sale of the property; Provision in a mortgage document stating that the loan must be paid in full if ownership is transferred; A type of acceleration clause calling for a debt under a mortgage deed of trust to be due in its entirety upon transfer of ownership of the secured property Also called a due-on-sale clause; A clause in a mortgage, which gives the lender the right to call the entire loan balance due if the property is sold; due-on-sale clause; This is a clause in a mortgage that usually specifies if you sell or transfer the property to another person, the mortgage becomes immediately due and payable (Also called an "Acceleration Clause"); A provision sometimes found in a promissory note or mortgage that provides that the balance of the secured debt becomes immediately due and payable at the option of the mortgagee upon the alienation of the property by the mortgagor Alienation is usually broadly defined to include any transfer of ownership, title or an interest or estate in real property, including a sale by way of a contract for deed Also called a due-on-sale clause (See acceleration clause); A type of acceleration clause that demands payment of the entire balance upon sale or other transfer of title; also called a "due-on-sale" clause; This is a clause that enables the mortgagee to demand payment of the outstanding balance including interest upon sale or transfer of title (also known as a "due on sale" clause); A provision in a document giving a person the right to transfer or forbidding him from transferring the property which is the subject of the document; A clause calling for a debt under a mortgage or deed of trust to be due in its entirety upon transfer of ownership of the secured property; A special type of acceleration clause (See Due-On-Sale Clause); Calls for a debt under a mortgage or deed of trust to be due in its entirety upon transfer of ownership of the secured property; A provision often included in a mortgage or deed of trust that legally permits the lender (mortgagee) to demand payment of all the outstanding principal if the property is sold or transferred by the borrower (mortgagor) Such a provision is also commonly known as a due-on-sale clause; A provision that requires the borrower to pay the balance of the loan in a lump sum after the property is sold or transferred; A type of acceleration clause where a debt becomes due in its entirety upon the transfer of owner-ship of a secured property See also "Due on Sales Clause" and "Acceleration Clause "; Sometimes know as a due on sale clause is found in most mortgages It states that if a borrower sells (alienates) a property, the mortgage immediately becomes due and payable; A provision in a mortgage that allows the lender to declare the entire balance immediately due and payable if title to the mortgaged property is transferred without the lender's prior written consent