Respuesta :
The defeasance clause provides the mortgagor with clear title when the loan is paid off.
What is mortgagor?
An individual or group who borrows money to buy a house or other piece of real estate is known as a mortgagor. In order to obtain a mortgage when buying a home, a person needs visit a bank or other lending organization.
What is defeasance clause?
Only after the mortgage loan has been fully repaid will the defeasance provision grant complete title to the homeowner (rather than the lender). Until then, if the borrower fails on the loan, the lender may pursue a judicial foreclosure, seizing the home and selling it to make up the difference between the purchase price and the loan balance.
To know more about mortgagor visit:
https://brainly.com/question/13493911
#SPJ4
