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Mortgage Alienation Clause Violation?

Discussion in 'Mortgages & Financing' started by regioncorp, Mar 5, 2013.

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  1. regioncorp

    regioncorp Law Topic Starter New Member

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    If there are two owners of commercial real estate in Massachsetts who both sign a mortgage and then a year later one of the owners deeds his ownership interest to the co-owner, does this violate the due-on-sale/alienation clause in the mortgage and constitute grounds for foreclosure?
     
  2. army judge

    army judge Super Moderator

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    I suggest you discuss this with a local attorney.

    Deeding your interest in real property won't eliminate your legal responsibility to pay the mortgage.

    It's a meaningless gesture, insofar as the lender is concerned.


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