Subordination clause

Clause in some mortgages which allows subsequent mortgages on the same Property to have higher Claim than the current mortgage.

Related Terms: 7 Claim, High, Low, Lows, Mortgage, Property, Rent

Other Related Pages: Category: Real_Estate Starting With: S

Additional Related Terms: 10-Q, 52-week high, 52-week low, All or any part, All-risks coverage, Add-on service, Action to quiet title, Assignment to creditors, Attorney in fact, Acceleration clause