Acceleration Clause

A provision in a Court order or agreement that if a certain number of installment payments are due, the entire amount will be due or, if the installment payments are secured by an asset, the asset shall be sold.

Some examples:

Spouse A shall owe $10,000.00 as an equalization payment to Spouse B. Spouse A shall pay this debt in twenty (20) monthly installments due the first day of each month. In the event Spouse A misses two consecutive months, the entire amount shall be immediately due.

Spouse A shall assume the mortgage for the marital residence. Spouse A shall ensure that the mortgage is paid timely and fully each month. In the event Spouse A ever misses a payment, makes only a partial payment, or makes a late payment, the home shall be immediately listed for sale and the net proceeds equally divided.