Question

Greg Hall is a developer who secured a loan for 15 homes he is building. As each home is completed, Greg must be able to give clear title to each purchaser. To keep from having to pay off the whole mortgage before he can sell each parcel, which clause will he need to have in his mortgage document? Release clause Subordination clause Acceleration clause Prepayment Privilege

Answer 1

Answer:

Release clause

Explanation:

A release clause is a word used to describe a stipulation in a mortgage deal. After a proportionate amount of the mortgages has been repaid, the release clause provides for the release of some or all of portion of an estate from a purchaser's claim.