North Point Patio Offices Venture v. United Benefit Life Insurance Co.

OPINION

DRAUGHN, Justice.

North Point Patio Offices Venture (North Point) appeals from a summary judgment granted in favor of United Benefit Life Insurance Co. (United Benefit). The sole issue is whether the so-called “due on sale” clause (alternatively referred to as an optional acceleration clause) contained in a deed of trust between North Point and United Benefit constitutes an unreasonable restraint on the alienation of property. The “due on sale” clause provides for optional acceleration of the entire indebtedness by United Benefit if North Point sells the mortgaged property to a third…