The acceleration and disposal clauses have one thing in common: they allow lenders to demand, at their discretion, the full and immediate repayment of the debt at the same time. However, the acceleration clause is the language of the contract that allows lenders to begin the enforcement process, usually after a borrower has missed at least two payments. Check the terms of your mortgage agreement for clarity. More rarely, credit acceleration can be triggered by the termination of homeowners` insurance, non-payment of property taxes, an application for insolvency or an unauthorized transfer of ownership. If an assignment clause is not included in a mortgage agreement, the landlord may be free to transfer the mortgage debt to a new owner in a presumptuous mortgage agreement. Presumptuous mortgage contracts allow a new owner to take on the remaining debts of the previous owner and make the expected payments to the mortgagee under the same conditions as the previous borrower. Adopted mortgage contracts are not common, but they could be used if a homeowner is afraid of disclosure and does not have an alienation clause in their mortgage contract. A mortgage contract of considerable value can help a borrower in difficulty to lighten his obligations by simplifying the transfer process. Don`t worry: when you`re done reading this article, the alienation clauses won`t seem so foreign to you. The agreement for the assignment of the exclusive right must be concluded in writing. In the case of an agreement for the assignment of the exclusive right to inventions, utility models, industrial models, trademarks, the transfer of rights of the contract is subject to state registration. The legal consequence of non-compliance with the written form of the contract and the requirements of the public registration of the transfer of rights is its nullity of the contract. Article 1234 of the Civil Code of the Russian Federation regulates the conditions applicable to agreements for the assignment of the exclusive right to the result of intellectual activities or means of individualization when one party (a right holder) fully assigns its exclusive right to another party (an assignee) or undertakes to transfer it.
Disposal clauses – also known as sale due clauses – are generally a norm, especially in the mortgage industry. . . .