A due on sale clause which specifies that the mortgage can accelerate the debt if the property is sold without the mortgagee's permissions is a typical clause in a mortgage document.
Correct Answer:
Verified
Q2: A mortgage is the same thing as
Q4: If a debtor,under Chapter 7 bankruptcy,is not
Q5: A clause which specifies that the mortgagee
Q8: A remainder cannot be mortgaged.
Q12: A purchaser at a tax sale receives
Q13: If a property encumbered by a mortgage
Q14: A technical default can result from failure
Q17: Prepayment of a loan without penalty is
Q19: When a purchaser takes a property "subject
Q20: A mortgage default can result from failure
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents