44-8-27. Due-on-sale clause defined.
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/sd/title-44/chapter-44-8/44-8-27·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purpose of this section and § 44-8-28 , a due - on - sale clause is a provision of a real estate mortgage which requires that the note secured by the mortgage be paid at the time the property is transferred and no assumption of the original note is permitted.