Definition of "Nonalienation clause"

A clause in a document forbidding an individual from selling or transferring the subject property to another. Frequently, nonalienation clauses are used in a trust where the grantor of the trust believes the designated beneficiary is a spendthrift. In this situation, a nonalienation clause may be inserted to prevent the beneficiary from selling the assets of the trust. This type of trust is called a spendthrift trust.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Haven’t you ever paid a bill a few days after the due date? It happened to all of us, not necessarily because we didn’t have the money, but because we simply forgot about it. A ...

Mock closing; all information is available prior to an actual closing in order to insure all documents are properly executed by the appropriate parties. A preclosing is normally used only ...

Removal of a tenant from a portion of a rented or leased premise. ...

Expiration of a lease or insurance policy by mutual consent of the parties, also to give up. ...

Platform erected on a roof in some New England homes having a view of the sea. It was said widows of lost seaman would walk on the platform looking out at sea for their husbands to return ...

Offering price. ...

Condensed appraisal report covering the major items. ...

Mortgage where the lender pays a borrower a fixed monthly payment based on the value of the property. It allows the borrower to receive monthly receipts against the equity in his or her ...

Also called price control or rental control. A controlled or administered price that is set for property by a federal or local agency typically in extraordinary circumstances. ...

Popular Real Estate Questions