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

资深译员姚坚，国际知名语言学院法律翻译专业，擅长翻译各类与主权诉讼，仲裁及债务解决相关的法律文件。