standard mortgage clause

A mortgage clause that protects the mortgagee’s interest even if the insured mortgagor does something to invalidate the policy.

• In effect, this clause creates a separate contract between the insurer and the mortgagee.

— Also termed union mortgage clause.

---

词条贡献者

译者Sherry，毕业于欧洲顶尖的高级翻译学院，擅长翻译各种与复杂并购相关的法律文件。