Mortgage Exclusion
/ˈmɔːrɡɪdʒ ɪkˈskluːʒən/
Definitions
- (n.) A legal provision excluding certain mortgage debt amounts from taxation or certain legal liabilities.
The taxpayer claimed a mortgage exclusion to reduce taxable income on their primary residence.
- (n.) An exclusion clause in a mortgage agreement that limits or excludes lender liability under specific conditions.
The mortgage exclusion in the contract protected the lender from claims arising from structural defects.
Forms
- mortgage exclusions
Related terms
See also
Commentary
Mortgage exclusion commonly arises in tax law to exclude certain mortgage-related amounts from income or in contract law as clauses limiting liability; drafters should specify scope clearly to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.