A provision in a loan agreement that prohibits transferring a mortgage to another borrower without approval from the lender.
Related information about nonassumption clause:
- Nonassumption Clause: Definition from Answers.com
Nonassumption Clause Clause in a mortgage contract prohibiting Assumption of the mortgage by a third party, at the same rate and payment terms, without.
- nonastringent - The Free Dictionary
Nonassociative ring · Nonassociative rings · nonassumption clause · Nonasthmatic Eosinophilic Bronchitis. nonastringent. Nonatetracontane · Nonatetracontane ...
- Nonatetracontane - The Free Dictionary
nonassumption clause · Nonasthmatic Eosinophilic Bronchitis · nonastringent. Nonatetracontane. nonatomic Boolean algebra · nonatomic measure space ...
- Due-on-sale Clause
Also called an alienation clause, nonassumption clause, call clause, or a right-to- sell clause, it can be found in contracts for deed and deeds of trust. Although ...
- Educational Materials - Mortgage Clauses
... costs and loan application procedures. However, most conventional mortgages at present are not assumable (i.e., there is a "nonassumption" clause in the ...
- noncompete agreement - Business Definition
nonassumption clause · noncallable · noncompetitive bid · nonconforming loan · nonconforming use · noncontestability clause · noncontributory pension plan ...
- What is nonassessable stock? definition and meaning
nonassessable stock. non-arm's length transaction · nonassumption clause. Definition. A type of stock class whereby the company issuing the shares will not be ...
- What is non-bank? definition and meaning
non-bank. nonassumption clause · non-bank financial company. Definition. noun. a financial institution which is not a commercial bank according to the official ...