Subordination

Typosquatting

Allowing a debt or claim which has priority to take second position behind another debt, particularly a new loan. a property owner with a loan secured by the property who applies for another loan to make additions or repairs usually must get a subordination of the original loan so the new obligation is in first place. a declaration of homestead must always be subordinated to a loan.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.