May 31 , 2016

Tampa School of Real Estate

Release Clause

Definition:   a provision found in many blanket mortgages enabling the mortgagor to obtain partial releases of specific parcels from the mortgage upon a payment of a designated amount

Pronunciation:    \ri-ˈlēs\ \ˈklȯz\

Used in a Sentence:    The builder had a release clause for the mortgage on the property he was developing so he could give a clear title to the purchasers.

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