It honestly seems about right. It's just plain language rather than legalese. I remember signing my first mortgage and my lawyer summed it up as "The bank owns your house and will let you live there as long as you pay them."
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I'd run it by a lawyer. I can't imagine it will take a lawyer long to settle this since it's probably some standard language that just sounds confusing, so you're looking at a nominal fee. You're basically just paying money to feel at ease.
Generally speaking, having a secret trapdoor buried in a legal contract is Hollywood thing, because an actual court would be like, "This person agreed to a mortgage, paid the entire thing plus interest for years, and now you are entitled to their house why? Why would a reasonable person agree to this unless they were tricked?"
But that said, I pretty much always hire a lawyer for important stuff like property. Also then someone else's license is on the line should this ever actually become an issue.
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