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Prior to adopting the due-on-selling regulation, the latest Board had interpreted 12 CFR 545

“17. Transfer of the house; Assumption. If the the or people part of the Assets otherwise an attraction therein comes or transferred by Borrower versus Lender’s previous written agree, leaving out (a) the production of a great lien otherwise burden subordinate compared to that Deed out of Faith, (b) the creation of a purchase-money shelter appeal having domestic devices, (c) a transfer from the devise, lineage or of the process off law through to the fresh new loss of a great joint-tenant or (d) the fresh new give of any leasehold appeal away from three years otherwise shorter perhaps not who has an option to pick, Bank can get, from the Lender’s choice, declare most of the figures safeguarded through this Action of Believe so you can be instantly owed and you may payable. (more…)

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