FIRST SOUTHERN FEDERAL SAV. & LOAN v. Britton

We are confronted in this case with the validity vel non of a "due-on-sale" clause as found in modern real estate mortgages. The particular clause in the mortgage involved in this case is as follows:

"Fifth: Sale or Change in Possession of Property — The Mortgagor shall not sell or transfer title to the property described herein, nor allow or make any change in the possession, or character of possession, thereof, without the written approval of the Mortgagee, and any violation of this provision shall constitute a default hereunder, and, at the option of the Mortgagee, all amounts secured by…