Maryland Subordination of Mortgage Lien to Easement and Right of Way: Explained In the state of Maryland, a subordination of mortgage lien to easement and right of way is an important legal process that affects property ownership and financing. This agreement allows for an existing mortgage lien on a property to be subordinated to any easement or right of way that may be granted or acquired over the property. The purpose of subordinating a mortgage lien is to prioritize the rights of the holder of the easement or right of way over the rights of the mortgage lender. This means that if a conflict arises between the mortgage lender and the holder of the easement or right of way, the rights of the latter would prevail. This type of arrangement is particularly vital when an easement or right of way is necessary for utilities, access to public roads, or other purposes that require passage over or use of the property in question. By subordinating the mortgage lien, it ensures that the property remains accessible for its intended use. There are several types of Maryland subordination of mortgage lien to easement and right of way, including: 1. Voluntary Subordination: This occurs when the mortgage lender and the holder of the easement or right of way willingly enter into an agreement where the mortgage lien is subordinated. This may happen during property development or when an existing property is sold with an existing easement or right of way. 2. Involuntary Subordination: In certain cases, the government or a public agency may acquire an easement or right of way through condemnation or eminent domain, requiring the mortgage lien to be involuntarily subordinated. This is done to ensure public interests, such as road expansion projects or utility installations. 3. Subordination Agreements: Subordination agreements are legally binding documents that outline the terms and conditions of the subordination. These agreements typically detail the rights and priorities of the involved parties, the duration of the subordination, and any necessary adjustments to the mortgage terms. 4. Title and Lien Searches: Before entering into a Maryland subordination of mortgage lien to easement and right of way, it is crucial for all parties involved to conduct thorough title and lien searches. These searches ensure that no prior liens or encumbrances exist on the property, which could complicate the subordination process. In conclusion, the Maryland subordination of mortgage lien to easement and right of way is a critical legal process that protects the rights of easement or right of way holders while ensuring property financing. Understanding the various types of subordination agreements and conducting in-depth searches are essential steps to ensure a smooth and legally sound transaction.
Maryland Subordinaton of Mortgage Lien to Easement and Right of Way
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FAQ
An easement is the right that one person has to use a designated part of another person's property for a specific purpose, such as the extension of a water or sewer line across part of your property.
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.
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.
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.
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.
