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| The Real Estate Encyclopedia |
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| Acceleration Clause |
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| Category - Real Estate Almanac - Glossary of Terms
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1. A condition in a real estate financing instrument giving the lender the power to declare all sums owed to the lender immediately due and payable upon the happening of an event such as sale of the property or a delinquency in the repayment of the note.
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Clause in a deed of trust or mortgage which "accelerates" the time when the indebtedness becomes due. For example, some mortgages or deeds of trust contain a provision that the note balance shall become due immediately upon the resale of the land or upon the default in the payment of principal and interest. |
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