dragnet clause

dragnet clause
Provision in a mortgage in which mortgagor gives security for past and future advances as well as present indebtedness. A type of mortgage provision that attempts to make the mortgaged real estate security for other, usually unspecified, debts that the mortgagor may already or in the future owe to the mortgagee. While it is a species of future advances mortgage, the mortgagor and mortgagee rarely have in mind any specific future advances

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • dragnet clause — A provision of a mortgage which broadens the security clause to cover all indebtedness of the mortgagor to the mortgagee of past or future origin, existing indebtedness, advances to be made by the mortgagee to the mortgagor, and indebtedness of… …   Ballentine's law dictionary

  • dragnet clause — noun : a clause in a tariff law that imposes a certain rate of duty on articles not enumerated as free from duty or as subject to any other duty …   Useful english dictionary

  • dragnet clause — A provision in a mortgage or security agreement that attempts to extend the security interest granted to the creditor to cover not only the described debt but also all other present and future indebtedness of the debtor. American Banker Glossary …   Financial and business terms

  • dragnet clause — Provision in a mortgage in which mortgagor gives security for past and future advances as well as present indebtedness. A type of mortgage provision that attempts to make the mortgaged real estate security for other, usually unspecified, debts… …   Black's law dictionary

  • clause — Synonyms and related words: adjectival phrase, article, back matter, bill, book, boundary condition, calendar, catch, chapter, column, companion bills amendment, condition, construction, donnee, dragnet clause, enacting clause, escalator clause,… …   Moby Thesaurus

  • saving clause — Synonyms and related words: alternative, bill, boundary condition, calendar, catch, choice, clause, companion bills amendment, condition, donnee, dragnet clause, enacting clause, escalator clause, escape clause, escape hatch, fine print, given,… …   Moby Thesaurus

  • joker — Synonyms and related words: Adamite, Artful Dodger, Casanova, Don Juan, Machiavel, Machiavelli, Machiavellian, ace, actor, artful dodge, artifice, astonishment, bad boy, bag of tricks, bamboozler, banana, bastard, befuddler, beguiler, being, best …   Moby Thesaurus

  • proviso — Synonyms and related words: bill, boundary condition, calendar, catch, clause, companion bills amendment, condition, donnee, dragnet clause, enacting clause, escalator clause, escape clause, escape hatch, exception, fine print, given, grounds,… …   Moby Thesaurus

  • amendment — Synonyms and related words: Great Leap Forward, addendum, addition, advance, advancement, alteration, amelioration, ascent, attachment, bettering, betterment, bill, boost, calendar, change, change of allegiance, change of heart, change of mind,… …   Moby Thesaurus

  • bill — Synonyms and related words: CD, Federal Reserve note, IOU, MO, acceptance, acceptance bill, account, accounts payable, accounts receivable, act, advertise, affiche, affidavit, agenda, allegation, allowance, amount due, antlia, assessment,… …   Moby Thesaurus

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