§ 6.1-330.88. Mortgage, etc., to contain notice that debt is subject to call or modification on conveyance of pro...
Where any loan is made secured by a mortgage or deed of trust on real property comprised of one to four family residential dwelling units, and the note, or mortgage or deed of trust evidencing such loan contains a provision that the holder of the note secured by such mortgage or deed of trust may accelerate payment of or renegotiate the terms of such loan upon sale or conveyance of the security property or part thereof, then the mortgage or deed of trust shall contain in the body or on the margin thereof a statement, either in capital letters or underlined, which will advise the borrower as follows: "Notice - The debt secured hereby is subject to call in full or the terms thereof being modified in the event of sale or conveyance of the property conveyed."
(1987, c. 622.)
Sections: Previous 6.1-330.78:1 6.1-330.79 6.1-330.80 6.1-330.81 6.1-330.82 6.1-330.83 6.1-330.84 6.1-330.85 6.1-330.85:1 6.1-330.86 6.1-330.86:1 6.1-330.87 6.1-330.88 6.1-330.89 6.1-330.90 NextLast modified: April 2, 2009