Solved

The Following Language Appears in a Mortgage: "In the Event

Question 106

Multiple Choice

The following language appears in a mortgage: "In the event the buyer sells, transfers or assigns the property described herein as security for the above-referenced underlying note, the full balance of the loan then due and owing, including principal, shall become due." The language is an example of:


A) An acceleration clause.
B) A balloon payment clause.
C) A due-on-sale clause.
D) An Anaconda clause.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents