While reviewing the mortgage documents received from the bank, a typical clause David will most likely encounter is alienation clause.
Alienation clause is especially found in mortgage deals and property insurance contracts. According to this clause, the transfer or the sale of a particular asset is to be done once the main party fulfills its financial obligation.
An alienation clause is included for both residential and commercial mortgage borrowers. Thus, this clause requires a mortgage lender to be immediately repaid if an owner transfers ownership rights or sells a collateral property.
Hence, David will most likely encounter alienation clause, while reviewing the mortgage documents.
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