union mortgage clause

A clause in a policy of insurance covering property, which, in addition to a provision for payment of the proceeds of insurance to a mortgagee as his interest may appear, contains terms for the additional protection of the mortgagee, providing that the interest of the mortgagee in the proceeds shall not be invalidated by the act or neglect of the mortgagor or owner of the insured property, or, less frequently, that no act or default of any person other than the mortgagee or those claiming under him shall affect his right to recover in case of loss. 29 Am J Rev ed Ins § 731.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • union mortgage clause — n: standard mortgage clause Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • union mortgage clause — A clause, as in a fire policy (together with the rider making the loss, if any, payable to the mortgagee), which provides that if the policy is made payable to a mortgagee of the insured real estate, no act or default of any person other than… …   Black's law dictionary

  • standard mortgage clause — n: a mortgage clause that is usu. 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… …   Law dictionary

  • open mortgage clause — See union mortgage clause …   Black's law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • standard mortgagee clause — A loss payable clause for the protection of the interest of a mortgagee of the insured property, in a form prescribed by statute. 29 Am J Rev ed Ins. § 731. See union mortgage clause …   Ballentine's law dictionary

  • Contract Clause — United States of America This article is part of the series: United States Constitution Original text of the Constitution Preamble Articles of the Constitution I · …   Wikipedia

  • 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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