Louisiana Tenant's Subordination (General - to a Lease/Easement)
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An agreement by which one encumbrance (for example, a mortgage) is made subject (junior) to another encumbrance. To "subordinate" is to "make subject to," or to make of lower priority.
An agreement by which one encumbrance (for example, a mortgage) is made subject (junior) to another encumbrance. To "subordinate" is to "make subject to," or to make of lower priority. A Subordination Agreement is a legal document that establishes the priority of liens or claims against a specific asset.
The Subordination Clause. A subordination clause is a lease provision whereby the tenant subordinates its possessory interest in the leased premises to a third-party lender, usually a bank (the rights of the tenant are thus subject to the rights of the lender).
The Subordination Clause A subordination is a contractual agreement by the tenant that its leasehold interest in the collateral property, or portion thereof (the subject property of the lease), is subordinate either to the mortgage or to the lien of the mortgage.
What is a mortgage subordination? When a mortgage holder subordinates a mortgage to a conservation easement, they agree to allow the easement to be first in the chain of title, so that in the event of a foreclosure, the easement survives intact.
What is a subordinate clause? If you win the award (you=subject; win=verb) Since the sun will shine today (the sun=subject; will shine=verb) When she was sick (she=subject; was=verb) Because mom said so (mom=subject; said=verb)
Subordinate clauses (or dependent clauses) add extra information to the main clause and cannot exist on their own. For example, "unlike my brother, I don't eat meat." Here the bolded text - the subordinate clause - gives us additional information about the main clause.
Sub·?or·?di·?nate s?-?b?rd-?n-?t. 1. : placed in or occupying a lower rank, class, or position. 2. : submissive to or controlled by authority.
