mortgage loss clause

mortgage-loss clause. A mortgage clause providing that title insurance will not be invalidated by the mortgagor’s acts. • Thus, even if the mortgagor does an act that would otherwise make the policy void, the act merely voids the policy as against the mortgagor, but it remains in full force for the benefit of the mortgagee. — Also termed New York standard clause; union-loss clause. Cf. open mortgage clause under MORTGAGE CLAUSE. [Cases: Mortgages 201. C.J.S. Mortgages §§ 311–314.]

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词条贡献者

译者Jessie，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与能源、自然资源与利用相关的法律文件。