Real Estate glossary
What is DUE-ON-SALE CLAUSE?
DUE-ON-SALE CLAUSE — A provision in the mortgage that states that the entire balance of the note is immediately due and payable if the mortgagor transfers (sells) the property.
Real Estate glossary
DUE-ON-SALE CLAUSE — A provision in the mortgage that states that the entire balance of the note is immediately due and payable if the mortgagor transfers (sells) the property.