Try googling it, Bronchick has a good article on it. Basically a lender calling a mortgage due if ownership is changed. But look for that article, search for "bronchick" "due on sale" and you will find it
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In loan contracts from institutional lenders there is usually a Due On Sale clause which claims that the entire loan amount is due and payable if the property is sold.
Try googling it, Bronchick has a good article on it. Basically a lender calling a mortgage due if ownership is changed. But look for that article, search for "bronchick" "due on sale" and you will find it
[addsig]
In loan contracts from institutional lenders there is usually a Due On Sale clause which claims that the entire loan amount is due and payable if the property is sold.