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.

Back to blog

Most Popular Courses