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Blanket loan

Blanket loan Definition

A blanket loan, or blanket mortgage, is a mortgage lient securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer normal requires a "partial release" clause so that individual parcels can be released from the blanket mortgage as they are sold.

RELATED TERMS
Mortgage
RELATED CATEGORIES
Real Estate



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