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No upfront payment required. Pay only if you hire. Home Real Estate Terms Glossary Due-on-Sale Clause
In a mortgage note , a due-on-sale clause is an important provision requiring the borrower or owner to pay off the full mortgage balance in case the house or property is either sold or transferred.
Note that the reason you should care about the due-on-sale clause in your contract is that you do not want your lender or bank to suddenly demand a payoff.
If you’ve a mortgage, note that this clause is triggered whenever you sell your property or transfer its ownership, usually through a property deed of trust .
Here’s Investopedia’s definition of a due-on-sale clause.
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Meet some lawyers on our platform40+ years handling litigation matters for employers and employees, defense and prosecution of personal injury matters, CalOsha defense, prepare employment contracts, non-compete clauses, established drug policies and franchise agreements. represented banks in commercial litigation , asset retrieval matters. conducted audits of insurance company claims on behalf of employers, defended contractors in toxic tort cases, handled appeals to the insurance commissioner on workers compensation rate classification matters
Christian Davila received his Juris Doctorate from St. Mary’s University and becoming a member of the State Bar of Texas in 2013. Before law school, he studied at Texas A&M International University (TAMIU), and participated in multiple programs across various fields of study, including the University of Texas Medical Branch-School of Medicine’s “Early Medical School Acceptance Program,” and the Hispanic Association of Colleges & Universities’ “National Internship Program” at the Library of Congress in Washington, D.C. Christian’s legal experience includes criminal law (both prosecution and defense), family law, transactional law, business litigation, real estate litigation, and general civil litigation. Christian was previously in-house counsel for a multi-million dollar apartment construction and management company, handling all property acquisition, document drafting, negotiations, and litigation. Christian is a former member of the American Association for Justice (formerly the Association of Trial Lawyers of America), and he has been distinguished by the National Trial Lawyers as one of their TOP 40 Civil Plaintiff attorneys in Texas UNDER 40 years old. He likes weightlifting, reading comicbooks, and being silly with his kids in his spare time.
