Rhode Island Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal process that involves the subordination of a lien, specifically a deed of trust or mortgage, in relation to a right of way. This allows for the right of way to take priority over the lien in certain circumstances. In Rhode Island, there are different types of subordination of lien related to a right of way, including: 1. Voluntary Subordination: This type of subordination occurs when the lien holder voluntarily agrees to subordinate their lien to the right of way. It is typically used when there is a need for construction or maintenance of the right of way to proceed, and the lien holder agrees that the right of way holder should have priority. 2. Involuntary Subordination: In this case, the subordination of lien to the right of way is required by a court or other regulatory authority. It may be ordered when it serves the public interest or benefits a specific project that requires the use of the right of way. 3. Partial Subordination: This type of subordination allows for only a portion of the lien to be subordinate to the right of way, while the remaining portion retains its priority. It is commonly used when there is a need to secure financing for a project using the right of way without jeopardizing the entire lien. The subordination of lien in Rhode Island is a complex legal process that requires careful consideration and documentation. It is important to consult with an experienced real estate attorney to navigate the intricacies of the subordination process to ensure compliance with Rhode Island laws and regulations. Keywords: Rhode Island, subordination of lien, deed of trust, mortgage, right of way, voluntary subordination, involuntary subordination, partial subordination, real estate attorney, Rhode Island laws.
Rhode Island Subordination of Lien (Deed of Trust/Mortgage to Right of Way)
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