A Subordination Agreement is a legal document used to clarify and establish the relative ranking of various creditors in terms of their claims on the assets of a borrower. Subordination Agreements are useful when a borrower has multiple creditors and wants to ensure that one creditor is paid before another. This agreement effectively “subordinates” one of the creditors to the other, giving the latter precedence in the repayment of debt. There are two main types of Subordination Agreement: subordinate debt and subordinate security. Subordinate debt is a loan with a lower priority than other loans in the event of default. Subordinate security is a lien or other security interest that is subordinate to another security interest in the same collateral.
Subordination Agreement
Description Real Estate Subordination Agreement
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