Final answer:
A provision in a mortgage that requires prior written notice and approval for mortgage assumption is valid and serves to protect the lender's interests by ensuring the creditworthiness of any new borrower.
Step-by-step explanation:
A provision in a mortgage requiring prior written notice to the mortgagee and the mortgagee approval of the assumption of the mortgage is generally considered valid. Such provisions are a common practice in mortgage agreements to protect the lender's interests by ensuring that any new borrower assuming the mortgage is creditworthy. It is not a violation of the Statute of Frauds, as mortgage agreements are required to be in writing, nor is it contrary to public policy, and it is not voidable simply because it requires notice and approval. Instead, these clauses help lenders manage the risk associated with the transfer of the property that serves as collateral for the loan.