Alienation Clause

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • full payment
  • transfer of title
  • fine print
  • ownership

Definition of Alienation Clause

  1. This clause stipulates that the borrower must pay the mortgage in full upon transferring the property.
  2. "Alienation" is the transference of ownership and property rights.

Related Terms and Acronyms

  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • Mortgage Assumption Definition, Important,
    • Taking over the payment and responsibility for an existing property loan.
  • Call Option Definition,
    • A clause in a mortgage that gives the lender the right to request the balance at any time.
  • Non-assumption Clause Definition,
    • A provision of a home loan that prohibits the transfer of the mortgage to another borrower without the lender's permission.
  • Transfer of Title (TOT) Acronym,
    • A document signed by the seller and purchaser transferring ownership, at which time the document is registered against the property.
  • Acceleration Clause Bank,
    • A provision within a document that explains how the lender expects payment for a loan, in due haste.
  • Credit Risk Bank,
    • The risk of loss assumed under a financial contract that a borrower or a counter-party to a loan or other credit-related contract may default or fail to fulfill its obligations.
  • Mortgage (mtg) Abbreviation, Important,
    • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
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