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.

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词条贡献者

译者Mathew，国际知名法学院国际仲裁与争端解决专业，擅长翻译各种与美国国内仲裁相关的法律文件。