recognition clause

recognition clause. Real estate. A clause providing that, when a tract of land has been subdivided for development, the ultimate buyers of individual lots are protected if the developer defaults on the mortgage. • Such a clause is typically found in a blanket mortgage or a contract for deed.

---

词条贡献者

译者Lisa，毕业于美国顶尖的高级翻译学院，擅长翻译涉及体育及娱乐业领域的法律文件。