Definition of "Release clause"

Anthony  Piotrowski real estate agent
Anthony Piotrowski, Real Estate Agent White Sands Realty & Assoc of NWF

In a mortgage, a provision that allows part of the security to be released from any further lien obligations upon the borrower's making a given payment. For example, a person may get a blanket mortgage for real estate having several structures. The mortgage may have a release provision in it allowing individual structures to be released from any later mortgage obligations when the mortgagor receives a payment from the mortgagee, either through sale of the structure or because of the payment.

 

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