Proponents of transmission flushing often claim 100% of the fluid is replaced. This is untrue for several reasons. When the engine is running and the transmission is in park, only a part of the fluid is circulated. A good deal of fluid simply flows from the pump back to the pan, through the pressure relief valve.
DEFINITION of 'Mortgagee'. An entity that lends money to a borrower for the purpose of purchasing a piece of real property. By accepting a mortgage on the real property, the lender creates security in the full repayment of the loan in the future.
Soâ¦What is the mortgagee clause? The mortgagee clause is the legal description of the entity that has financial interest in any piece of property. Typically, the mortgagee clause contains the name and address of the lender as well as the loan number. Pretty straightforward. You may also see the following letters or words contained in the mortgagee clause.