simple mortgage clause

simple mortgage clause
simple mortgage clause n: open mortgage clause

Merriam-Webster’s Dictionary of Law. . 1996.

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  • open mortgage clause — n: a mortgage clause which provides that payments go first to the mortgagee to the extent of its interest and which makes the mortgagee s right to receive payment dependent on the mortgagor s right to recover under the policy – called also simple …   Law dictionary

  • open mortgage clause — Same as simple loss payable clause …   Ballentine's law dictionary

  • Mortgage law — This article is about the legal mechanisms used to secure the performance of obligations, including the payment of debts, with property. For loans secured by mortgages, such as residential housing loans, and lending practices or requirements, see …   Wikipedia

  • simple loss payable clause — A clause in a policy of insurance on property subject to mortgage or lien, covering loss by fire, windstorm, flood, or other peril, providing for the payment of the proceeds of the insurance in the event of a loss to the named mortgagee or lienor …   Ballentine's law dictionary

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… …   Universalium

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  • Germany — /jerr meuh nee/, n. a republic in central Europe: after World War II divided into four zones, British, French, U.S., and Soviet, and in 1949 into East Germany and West Germany; East and West Germany were reunited in 1990. 84,068,216; 137,852 sq.… …   Universalium

  • Foreclosure — For Lacan s psychoanalytic process, see Foreclosure (psychoanalysis). House in Salinas, California under foreclosure, following the popping of the U.S. real estate bubble. Foreclosure is the legal process by which a mortgage lender (mortgagee),… …   Wikipedia

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