Finance
In West Virginia, a 'due-on-sale' clause in a mortgage or deed of trust means:
AThe property tax is due upon sale and must be paid by the seller
BThe full loan balance becomes due and payable when the property is sold or transferred✓ Correct
CThe lender may increase the interest rate upon sale
DThe buyer must pay a transfer fee to the lender upon purchase
Explanation
A due-on-sale (or acceleration) clause requires the full loan balance to be paid immediately if the property is sold or title is transferred. This prevents assumption of the loan without lender approval.
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