Finance
What is a 'due-on-sale clause' in a South Carolina mortgage?
AA requirement to pay off the loan within 5 years
BA clause requiring full loan repayment when the property is sold or transferred✓ Correct
CA clause allowing the buyer to assume the seller's mortgage
DA penalty for early payoff of the mortgage
Explanation
A due-on-sale (alienation) clause requires the borrower to pay off the entire loan when the property is sold or transferred. It prevents loan assumption without lender approval.
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