What is Subordinate?
To take action to legally place one lien in an inferior position to another, newer loan that must be filed as a first lien. The lender that is taking inferior priority must agree to the subordination.
Related Security Transactions And Mortgages Terms
Pass the Bar, Guaranteed
BarPrepHero Premium offers the most complete collection of real bar exam questions licensed directly from NCBE (the organization that writes the exam).