Property - Nebraska Upholds Validity of Due-on-Sale Clauses in Real Estate Mortgages
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Authors
Pasqual, Morris O. Jr.
Issue Date
1981
Volume
14
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
FIRST PARAGRAPH(S)|The Nebraskas Supreme Court's decision in Occidental Savings and Loan Association v. Venco Partnership I is the latest volley in the ongoing judicial battle over the validity of the due-on-sale clause. This clause entitles a lender to accelerate the maturity of a mortgaged debt if the mortgagor sells the secured property. Lenders use the due-on-sale clause to adjust the terms of fixed interest, long-term obligations during periods of rising interest rates. In a six to one decision, the court in Occidental held that these clauses are generally enforceable...
Description
Citation
14 Creighton L. Rev. 875 (1980-1981)
Publisher
Creighton University School of Law