Business and Personal Finance Dictionary

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• MORTGAGEE WAIVER
  
  A document obtained by some secured lenders with a collateral interest in property covered or potentially covered by a mortgage granted to a different lender. For example, if Bank B is taking a security interest in large equipment that might be deemed to be fixtures covered by a mortgage held by Bank A, Bank B may request a mortgagee waiver from Bank A. May also be used when a tenant is granting its lender a security interest in property that might be deemed to be fixtures subject to a mortgage granted by the landlord to its lender.
  
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