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FORM No. 372 (Nov. 1950) MORTGAGEE CLAUSE THIS MORTGAGEE CLAUSE IS TO BE ATTACHED ONLY TO POLICIES COVERING BUILDING(S). NOT MORE THAN ONE MORTGAGEE CLAUSE SHOULD BE ATTACHED TO ANY POLICY DATED ATTACHED.

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How to fill out the Mortgagee Clause online

Filling out the Mortgagee Clause is an important step in ensuring that all parties involved in property insurance are properly identified and protected. This guide will walk you through the process of filling out this form online, ensuring clarity in each step.

Follow the steps to complete your Mortgagee Clause online

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Locate the section for the date and fill in the required date as per your agreement.
  3. In the next section, specify the policy number where indicated. This helps to identify the specific insurance coverage linked to the mortgagee clause.
  4. Enter the name of the insurance company providing the coverage. Make sure this matches the official documents you have.
  5. Fill in the insured's name and mailing address. This is typically the property owner or the individual holding the insurance policy.
  6. Identify the agency handling the insurance and provide its name in the designated area.
  7. Proceed to the agent signature section. The agent responsible for the policy must sign to validate the mortgagee clause.
  8. Next, fill in the names of the mortgagee(s) who hold a financial interest in the property, ensuring you write the full names as required.
  9. Alongside each mortgagee's name, provide their respective mailing addresses to facilitate any correspondence regarding the policy.
  10. Review the completed document to ensure accuracy in all names and addresses, and that no detail is omitted.
  11. Finally, you can save changes, download, print, or share the completed Mortgagee Clause as necessary.

Complete your mortgage-related documents online for a smooth experience.

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The mortgagee clause is the legal description of the entity that has financial interest in any piece of property. Typically, the mortgagee clause contains the name and address of the mortgage lender as well as the loan number.

Mortgagee Clause, Defined The mortgagee clause is a provision added to a property insurance policy that protects the lender (or the investors who actually own the mortgage), also known as the mortgagee, from suffering major losses on their investment.

The mortgagee is another word for the bank or lending institution providing the funds to purchase a home or refinance. “The mortgagee has rights to the real estate collateral associated with securitizing the loan, providing them with protection against default,” Heck says.

A mortgagee clause is found in many property insurance policies, and it provides protection for a mortgage lender if a property is damaged. Normally, you will be asked to agree to a mortgagee clause when you take out a mortgage.

A loss payee is a person or entity listed on insurance documents to whom the check for damages will be issued in the event of a loss. A mortgagee is a person or lender who provided you a loan with which to buy your property. The loss payee and the mortgagee are typically one and the same, but not always.

For example, a lending institution that offers a loan to purchase a home is a mortgagee. In personal possessions, the mortgagee is never placed in eligible parties to receive loss payee payments. On the homeowner's insurance policy, in addition to the mortgage lender and mortgagor, one can assign other loss payees.

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Fill Mortgagee Clause

A mortgagee clause is a protective provisional agreement between a mortgagee and a property insurance provider. A mortgagee clause is part of a homeowners insurance policy. A mortgagee clause is a property insurance provision granting special protection for the interest of a mortgagee (e.g. A mortgagee clause is a part of a homeowners insurance policy that protects the lender's financial interest in the property. LOSS (IF ANY) UNDER THIS POLICY, ON BUILDINGS ONLY, SHALL BE PAYABLE TO THE MORTGA-.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232