Louisiana Subordination of Mortgage Lien to Easement and Right of Way is a legal process that allows for the prioritization of an easement or right of way over an existing mortgage lien on a property. This subordination agreement ensures that the rights and interests of both the mortgage lender and the party benefiting from the easement or right of way are protected. Keywords: Louisiana, subordination, mortgage lien, easement, right of way, legal process, prioritization, property, agreement, mortgage lender, party, interests, protected. There are primarily two types of Louisiana Subordination of Mortgage Lien to Easement and Right of Way, namely: 1. Voluntary Subordination: Voluntary subordination occurs when the mortgage lender and the party seeking the easement or right of way agree to subordinate the mortgage lien to the desired easement or right of way. This type of subordination requires the consent of the mortgage lender and is typically accomplished through a written agreement that outlines the terms and conditions of subordination. 2. Judicial Subordination: Judicial subordination, on the other hand, occurs when the parties involved cannot reach an agreement on the subordination voluntarily. In such cases, the party seeking the subordination may file a lawsuit to request the court to order the subordination. The court will then review the circumstances and make a decision based on the best interests of all parties involved. Both types of subordination aim to ensure that the rights and interests of the party benefiting from the easement or right of way are protected, while still allowing the mortgage lender to maintain some level of security on the property. The subordination agreement typically outlines the specific terms and conditions of the subordination, including any limitations or conditions that might apply. In conclusion, the Louisiana Subordination of Mortgage Lien to Easement and Right of Way is a legal process that prioritizes an easement or right of way over an existing mortgage lien. It can be achieved through voluntary agreement or by seeking a court order. These subordination agreements help protect the interests of both the mortgage lender and the party benefiting from the easement or right of way.
Louisiana Subordinaton of Mortgage Lien to Easement and Right of Way
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FAQ
An easement intended to run with some benefitted land is called appurtenant to the benefitted land (also called the dominant tenement holding or dominant estate). Otherwise, the easement is personal to the grantee and is called in gross.
The property subject to the easement is known as the ?burdened? or ?servient? parcel. The property that uses the easement is known as the ?benefited? or ?dominant? parcel. The California Civil Code lists eighteen explicit servitudes.
An affirmative easement gives the easement holder the right to do something on the grantor of the easement's land, such as travel on a road through the grantor's land.
An appurtenant easement is a property right that allows the holder to use an adjoining piece of real estate. This real property transfers with the land. A dominant tenement is the parcel of land that derives benefit from the easement while a servient tenement is the land parcel that provides the easement.
Easements in Gross In contrast, an easement in gross benefits a person or entity, rather than a parcel of land. If the property is sold to a new owner, the easement is typically transferred with the property.
If you own the land fronting the street, you cannot block access to those who must cross your property to access the street. They have a legal right to do so. A prescriptive easement is one that is recognized by the mere fact of its existence and its continued use.
Land affected or "burdened" by an easement is called a "servient estate," while the land or person benefited by the easement is known as the "dominant estate." It is the responsibility of the dominate estate holder for maintenance and upkeep of the easement.
Similar to the common law doctrine of easement by necessity, Louisiana law provides that all estates without access to a public road have a right to obtain passage over neighboring property to reach the nearest public road.
