A Connecticut Subordination Agreement, also known as a Deed of Trust, is a legal document used in real estate transactions to establish the priority of liens or mortgages on a property. It outlines the order in which multiple mortgages or liens will be paid off in the event of foreclosure or sale of the property. In Connecticut, there are two main types of Subordination Agreements: 1. Mortgage Subordination Agreement: This agreement is typically used when a property owner wants to obtain a new mortgage or refinance an existing mortgage while keeping the original mortgage in place. By signing this agreement, the original mortgage lender agrees to subordinate their position to the new mortgage, allowing it to take priority in the event of foreclosure or sale. 2. Lien Subordination Agreement: This type of agreement is used when there are multiple liens on a property, such as a first mortgage, a home equity line of credit, or a judgment lien. By signing this agreement, the holder of a lower-priority lien agrees to subordinate their position to the lien with higher priority. This allows the higher-priority lien to be paid off first in case of foreclosure or sale. Keywords: Connecticut, Subordination Agreement, Deed of Trust, liens, mortgages, priority, real estate transactions, refinance, foreclosure, sale, Mortgage Subordination Agreement, Lien Subordination Agreement.
Connecticut Subordination Agreement (Deed of Trust)
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How to fill out Connecticut Subordination Agreement (Deed Of Trust)?
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