Exam term

Subordination

A change in lien priority, as when a lienholder agrees that another lien will rank ahead of its own. The debt itself remains.

Lessons that use this term

Mortgage clauses: acceleration, due-on-sale, prepayment, defeasance, and subordination Florida
Liens: general and specific liens, priority, and subordination New York
Mortgages and deeds of trust: lien and title theory, loan types, and mortgage clauses Texas