standard mortgage clause

noun

Legal Definition of standard mortgage clause

: a mortgage clause that is usually considered to form a separate contract between the insurer and mortgagee under which the mortgagee can collect payment even if the policy is void or voidable with regard to the insured (as because of fraud or nonpayment)

called also union mortgage clause

Learn More about standard mortgage clause

Cite this Entry

“Standard mortgage clause.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/standard%20mortgage%20clause. Accessed 27 Sep. 2020.

Comments on standard mortgage clause

What made you want to look up standard mortgage clause? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

Test Your Vocabulary

Challenging Vocabulary Quiz Returns!

  • stylized drawing of woman pole vaulting across gap to get trophy
  • Which is a synonym of fuliginous?
Spell It

Can you spell these 10 commonly misspelled words?

TAKE THE QUIZ
Bee Cubed

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!