Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way)

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• Control #: US-OG-1145
• Format: Word; Rich Text

Description

This form is a subordination of lien for deed of trust or mortgage to right of way. Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal process that allows for the alteration of the priority status of a previously recorded lien or mortgage in relation to a right of way. This type of subordination is commonly used when there is a need to prioritize the right of way over an existing mortgage or deed of trust. This can typically occur when there is a proposed project, such as the construction of a road or utility line, that requires the right of way to be established. There are different types of Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) that may be applicable depending on the specific circumstances: 1. Temporary Subordination: This type of subordination is used when a temporary right of way is needed for a specific project or construction activity. The existing lien or mortgage holder agrees to temporarily subordinate their interest to allow for the necessary work to take place. Once the project is completed, the lien or mortgage will regain its priority status. 2. Permanent Subordination: In some cases, a permanent subordination may be required when the right of way is essential for ongoing use, such as a utility easement. The lien or mortgage holder permanently subordinates their interest to the right of way, meaning that the right of way will take priority over their lien or mortgage in the event of foreclosure or other legal actions. 3. Partial Subordination: This type of subordination involves the partial subordination of a lien or mortgage to the right of way. It may occur when only a portion of the property is required for the establishment of the right of way, and the lien or mortgage holder agrees to subordinate their interest over that specific portion. The remaining portion of the property will retain the lien or mortgage's original priority status. It is important to note that Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) requires the consent and agreement of all parties involved, including the lien or mortgage holder, the property owner, and any other relevant stakeholders. A written agreement is typically drafted and recorded in the county land records to formalize the subordination. In summary, Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal process that allows for the alteration of lien or mortgage priority in relation to a right of way. Temporary, permanent, and partial subordination are some different types of subordination that may be used depending on the specific circumstances.

Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal process that allows for the alteration of the priority status of a previously recorded lien or mortgage in relation to a right of way. This type of subordination is commonly used when there is a need to prioritize the right of way over an existing mortgage or deed of trust. This can typically occur when there is a proposed project, such as the construction of a road or utility line, that requires the right of way to be established. There are different types of Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) that may be applicable depending on the specific circumstances: 1. Temporary Subordination: This type of subordination is used when a temporary right of way is needed for a specific project or construction activity. The existing lien or mortgage holder agrees to temporarily subordinate their interest to allow for the necessary work to take place. Once the project is completed, the lien or mortgage will regain its priority status. 2. Permanent Subordination: In some cases, a permanent subordination may be required when the right of way is essential for ongoing use, such as a utility easement. The lien or mortgage holder permanently subordinates their interest to the right of way, meaning that the right of way will take priority over their lien or mortgage in the event of foreclosure or other legal actions. 3. Partial Subordination: This type of subordination involves the partial subordination of a lien or mortgage to the right of way. It may occur when only a portion of the property is required for the establishment of the right of way, and the lien or mortgage holder agrees to subordinate their interest over that specific portion. The remaining portion of the property will retain the lien or mortgage's original priority status. It is important to note that Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) requires the consent and agreement of all parties involved, including the lien or mortgage holder, the property owner, and any other relevant stakeholders. A written agreement is typically drafted and recorded in the county land records to formalize the subordination. In summary, Ohio Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal process that allows for the alteration of lien or mortgage priority in relation to a right of way. Temporary, permanent, and partial subordination are some different types of subordination that may be used depending on the specific circumstances.