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单词 alienation clause
释义

Alienation Clause


Alienation Clause

A provision in a document permitting or forbidding a person from transferring property that is the subject of the document.

In a fire insurance policy, an alienation clause prohibits the alienation of the insured premises while the policy is in effect. If the insured violates this provision, the policy is void.

Alienation Clause


Alienation Clause

A clause in a mortgage contract requiring that the owner of a property (that is, the debtor on the mortgage) pay the remaining balance of the mortgage should the property be sold. The alienation clause ensures the bank is repaid in full when the ownership of a property changes. Because of an alienation clause, a potential seller usually seeks to sell a property for at least as much as the remaining balance.
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更新时间:2025/2/12 15:45:44