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FIRST COMMERCIAL TITLE, INC. v. HOLMES

No. 8202.

550 P.2d 1271 (1976)

FIRST COMMERCIAL TITLE, INC., a Nevada Corporation, Appellant, v. Alvaletta Z. HOLMES and Marion H. Parsons, Respondents.

Supreme Court of Nevada.

June 17, 1976.

Attorney(s) appearing for the Case

Streeter, Sala & McAuliffe and Gary Nelson, Reno, for appellant.

Breen, Young, Whitehead & Hoy, Reno, for respondents.

OPINION

ZENOFF, Justice:

We are asked to reject a "due-on-sale" clause in a deed of trust as an unreasonable restraint on alienation. The clause in question appears in a deed of trust executed in conjunction with the sale of certain real property located in Reno, Nevada. It provides:

"In the event that Trustor shall sell or contract to sell the parcel of land hereby encumbered without first obtaining the written consent of Beneficiary, the balance...

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