An instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary), and reconveyed upon payment in full.
Due on Sale
A type of acceleration clause, calling for a debt under a mortgage, deed of trust or land contract to be due in its entirety upon transfer of an interest in the secured property. Also called "alienation clause."
The South Central Wisconsin MLS serves Dane, Sauk , Columbia, Rock, Dodge, Iowa, Green, Lafayette, Grant, and Richland Counties, as well as portions of Jefferson, Crawford, Vernon, Juneau, Monroe, Adams, Marquette, Green Lake, and Waushara Counties.
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