Maine Subordination of Mortgage Lien to Easement and Right of Way: In Maine, the subordination of a mortgage lien to an easement and right of way refers to the legal process in which a mortgage lender agrees to subordinate their lien position to another party's easement and right of way interest. This subordination is essential for the smooth transfer and use of the property, allowing the easement holder to access their designated area without hindrance from the mortgage lender. When a property has an existing mortgage, which means it is collateral for a loan, and an easement or right of way is needed for a specific purpose, such as utilities installation, road access, or maintenance, subordination becomes necessary. By subordinating the mortgage lien, the lender voluntarily agrees to allow the priority of their lien to take a lower position compared to the rights of the easement holder or right of way grantee. Consequently, the easement or right of way holder will have the ability to make full use of their designated area while the mortgage lender retains their security interest in the property. There are various types of subordination agreements pertaining to mortgage liens, easements, and rights of way in Maine: 1. Voluntary Subordination: This occurs when the mortgage lender agrees to subordinate their lien to the easement or right of way holder willingly. This agreement is reached through mutual consent and is often negotiated to ensure the interests of both parties are protected. 2. Involuntary Subordination: This type of subordination may be required by law or regulatory bodies. For instance, if a governmental agency needs to create a public right of way for road construction, the mortgage lender may be compelled to subordinate their lien to the public entity's right of way. 3. Partial Subordination: In some cases, a mortgage lender may agree to partially subordinate their lien to allow for a specified portion of the property to be encumbered by the easement or right of way, while the rest remains subject to the mortgage. This allows for flexibility and protects the mortgage lender's interest to a certain extent. 4. Temporary Subordination: This occurs when the subordination of the mortgage lien is agreed upon for a specific duration. For example, if a utility company needs access to the property for a limited period to install or repair infrastructure, the mortgage lender may agree to temporarily subordinate their lien during that period. Subordination of mortgage liens to easements and rights of way can have significant legal implications, therefore it is crucial to consult with legal professionals, including real estate attorneys and mortgage lenders, to ensure the agreement is properly drafted and executed within the legal framework of Maine.
Maine Subordinaton of Mortgage Lien to Easement and Right of Way
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FAQ
"Conservation easement" means a nonpossessory interest of a holder in real property imposing limitations or affirmative obligations the purposes of which include retaining or protecting natural, scenic or open space values of real property; assuring its availability for agricultural, forest, recreational or open space ...
ofway easement grants the holder only the rights as stated in the express easement or granted by court order. Typically the right is simply to cross over the land of another. The easement holder does not have the right to change the nature or location of the rightofway.
Landlocked is a common term in New Hampshire. I have heard so many landowners use this term when they believe their land, or land they want to purchase, has no access. However, what most of those landowners do not realize is that there is very little landlocked land located in New Hampshire.
An easement right acquired expressly or through operation of law can be terminated. Depending on how the easement was created, there are different ways that it can be terminated. The holder of the easement can expressly give it up their easement rights, but it must be done in writing and should be recorded.
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.
Maine Adverse Possession Laws As mentioned, squatters can try to take legal ownership of a property if they have lived there for a long period. Unlike other states, Maine requires proof of at least 20 years of continuous occupancy to legitimately claim adverse possession.
So, where the neighbors will not give permission, the law will allow the landlocked owner to bring a suit to obtain an easement by necessity - the right to cross the land for purposes of accessing the property (this doesn't include any other rights to use the land).
