open mortgage clause

A mortgage clause that does not protect the mortgagee if the insured mortgagor does something to invalidate the policy (such as committing fraud).

• This type of clause has been largely superseded by the mortgage-loss clause, which affords the mortgagee more protection.

— Also termed simple mortgage clause. Cf. MORTGAGE-LOSS CLAUSE.


专业法律词汇 词条贡献者
译员张宏,知名法学院法律翻译专业,专注翻译各种与调查与白领犯罪辩护有关的法律文件。
Scroll to Top