Which clause requires that the note be satisfied before the property can be sold?

The due on sale clause is a provision in a mortgage or deed of trust that allows the lender to require the borrower to pay off the loan in full if the property is sold or transferred to another party. This means that the lien on the property remains intact until the debt has been satisfied. Therefore, under this clause, if the property owner decides to sell the property, they must first pay off the remaining balance on the loan. This is important because it protects the lender's interest in the loan by ensuring they are notified of any ownership changes and can enforce repayment.

The other clauses mentioned have different purposes. The estoppel clause pertains to the affirmation of the terms of the loan and ensures that the parties agree on certain facts, while the acceleration clause allows the lender to demand the full balance of the loan if payments are missed or default occurs. The defeasance clause typically nullifies the mortgage lien once the loan is paid off, but it does not specify conditions related to the sale of the property. Hence, the due on sale clause is the correct choice as it specifically requires loan satisfaction prior to property transfer.