| 词汇 | subordination agreement |
| 释义 | `1`subordination agreement`2` "LAW.COM Dictionary": n. a written contract in which a lender who has secured a loan by a mortgage or deed of trust agrees with the property owner to subordinate the first loan to a new loan (thus giving the new loan priority in any foreclosure or payoff). The agreement must be acknowledged by a notary so it can be recorded in the official county records. See also: subordination |
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