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Due on Sale Clause and Transfers to Trusts 12 ups 1701j-3

If you read through your mortgage carefully, you will notice that the bank reserves the right to accelerate the repayment of your loan in the event that the property is sold or transferred without the bank's written approval. This clause is there to safeguard the bank's rights in the property, which is the collateral for your loan. While an outright gift or sale to a third party is what the clause is intended to guard against, transfers arising out of estate planning strategies can and do trigger a breach of this clause.…

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