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.

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词条贡献者

法律翻译亚明，毕业于欧洲顶尖的高级翻译学院，专注翻译各类与汽车与运输有关的法律文件。