Subordination Agreement Law and Legal Definition
Subordination agreement is an agreement which makes the claim of one party inferior to a claim in favor of another. Subordination agreement is a legal document by which a person who holds an otherwise senior interest agrees to subordinate that interest to a normally lesser interest. This usually happens when a seller agrees to subordinate a purchase-money mortgage so that the buyer can obtain a first-mortgage loan to improve the property.
Legal Definition list
- Subordination
- Subordinate Legislation
- Suborbital Trajectory [Aeronautics and Space]
- Suborbital Trajectory
- Suborbital Rocket [Aeronautics and Space]
- Subordination Agreement
- Subordination Non-Disturbance and Attornment Agreement
- Subordination, Non-Disturbance and Attornment Agreement
- Suborn
- Subornation of Perjury
- Subpart F (Tax)
