due-on-sale clause

(1) the term “due-on-sale clause” means a contract provision which authorizes a lender, at its option, to declare due and payable sums secured by the lender’s security instrument if all or any part of the property, or an interest therein, securing the real property loan is sold or transferred without the lender’s prior written consent;


12 USC § 1701j-3(a)(1)

Scoping language

For the purpose of this section
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