South Carolina Subordination of Mortgage Lien to Easement and Right of Way refers to the legal process by which a mortgage lien on a property is subordinated or placed in a lower priority to an easement and right of way. This is done to ensure proper access to the easement for the benefit of the entity or individual with the right to use it. In South Carolina, there are two main types of Subordination of Mortgage Lien to Easement and Right of Way: 1. Voluntary Subordination: This type of subordination occurs when the property owner voluntarily agrees to subordinate their mortgage lien to the easement and right of way holder. This is often done through a written agreement, commonly known as a subordination agreement, between the mortgage lender, property owner, and the easement holder. By agreeing to this subordination, the lender acknowledges that the easement takes precedence over their mortgage lien in terms of priority and repayment. 2. Involuntary Subordination: In some cases, the subordination of the mortgage lien to the easement and right of way may be involuntary. This can occur when a court order or legal action requires the mortgage lender to subordinate their lien. This typically happens when the court deems it necessary to prioritize the easement for public interests, such as utility access, roadway expansion, or infrastructure development. Keywords: South Carolina, subordination, mortgage lien, easement, right of way, voluntary, involuntary, subordination agreement, priority, repayment, court order, legal action, utility access, roadway expansion, infrastructure development.
South Carolina Subordinaton of Mortgage Lien to Easement and Right of Way
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