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TeachMeFinance.com - explain nonassumption clause nonassumption clause -- a provision of a mortgage contract that prohibits the assumption of the mortgage by a third party without the prior approval of the lender. See due-on-sale clause. due-on-sale clause -- a clause in a mortgage contract providing that if the borrower sells or transfers any interest in the property, the lender has the right to demand the entire unpaid principal balance. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.