Finance
Vermont's 'assumption of mortgage' without lender approval may violate the:
AVermont Property Transfer Tax law
BDue-on-sale clause in the mortgage, allowing the lender to demand immediate repayment✓ Correct
CVREC licensing rules
DVermont Consumer Fraud Act
Explanation
Most conventional mortgages contain a due-on-sale clause prohibiting assumption without lender approval. Transferring the property without satisfying this clause can trigger the lender's right to call the loan due immediately.
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