Finance
A Wyoming buyer obtains seller financing with a 'due on sale' clause. This means:
AThe loan is due when the property sells, requiring the buyer to refinance or pay off the balance✓ Correct
BThe buyer can transfer the loan to a subsequent buyer freely
CThe seller must accept any payment in full without penalty
DThe loan converts to a fixed rate when the property is sold
Explanation
A due on sale (alienation) clause requires the full loan balance to be paid when the property is sold or transferred. This prevents loan assumptions without lender approval. If triggered, the buyer must pay off the loan or obtain new financing.
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