Arkansas Subordination Agreement, also known as Deed of Trust to Storage Agreement, is a legal document that outlines the priority of debts and liens on a property in Arkansas. This agreement is commonly used in real estate transactions, where multiple parties have claims or interests in a property. In Arkansas, there are two main types of subordination agreements: 1. Deed of Trust Subordination Agreement: This type of subordination agreement is used when a property owner obtains a loan secured by a deed of trust. The purpose of this agreement is to establish the priority of the deed of trust in relation to other liens or encumbrances on the property. By signing this agreement, the property owner agrees to subordinate the position of the deed of trust to another lien or encumbrance. 2. Storage Agreement Subordination Agreement: This subordination agreement is commonly used when a property owner leases or rents a storage space and wants to secure their belongings in case of default or non-payment. The agreement allows the storage facility to place a lien on the stored property, giving them the right to sell or dispose of it if the owner fails to meet their obligations. By signing this agreement, the property owner acknowledges the storage facility's lien and subordinates any other liens on the property to the storage agreement. Keywords: Arkansas, subordination agreement, deed of trust, storage agreement, priority of debts, liens, real estate transactions, property owner, loan, encumbrances, storage space, default, non-payment.
Arkansas Subordination Agreement (Deed of Trust to Storage Agreement)
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