Texas 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. Texas Subordination of Lien, specifically the Subordination of Lien (Deed of Trust/Mortgage to Right of Way), is a legal process that involves altering the priority of liens on a property in relation to the right of way. In this type of subordination, a property owner grants permission to a governmental entity or utility company to construct or maintain a public right of way on their property, such as a road, railroad, or utility line. The subordination of lien allows the government or utility company to have a superior claim on the property, while the existing mortgage or deed of trust is repositioned to a secondary lien position. This means that in case of foreclosure or any legal action, the priority of repayment would go first to the government or utility company, followed by the existing lender. Keywords: Texas Subordination of Lien, Deed of Trust, Mortgage, Right of Way, property owner, governmental entity, utility company, public right of way, road, railroad, utility line, superior claim, secondary lien position, foreclosure, repayment priority. There are different types of subordination of lien related to right of way: 1. Texas Subordination of Lien (Deed of Trust to Right of Way): This type of subordination involves the repositioning of a deed of trust lien to a lower priority position, granting the right of way to a governmental entity or utility company. The property owner retains ownership of the property, but the right of way takes priority in case of any legal actions. 2. Texas Subordination of Lien (Mortgage to Right of Way): Similar to the previous type, this subordination involves moving a mortgage lien to a lower priority position to accommodate the right of way. The property owner remains responsible for the mortgage payments, but the right of way gains priority in terms of repayment in case of foreclosure or other legal proceedings. 3. Texas Subordination of Lien (Deed of Trust/Mortgage to Right of Way): This type of subordination encompasses both a deed of trust and mortgage, which are repositioned to a secondary lien position. It allows the government or utility company to establish a right of way and have a superior claim on the property, while the property owner retains ownership and responsibility for mortgage payments. In summary, the Texas Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal method of adjusting the priority of liens on a property to accommodate the establishment of a right of way by a governmental entity or utility company. It involves repositioning the existing liens to a secondary position, giving priority to the right of way in case of legal actions.

Texas Subordination of Lien, specifically the Subordination of Lien (Deed of Trust/Mortgage to Right of Way), is a legal process that involves altering the priority of liens on a property in relation to the right of way. In this type of subordination, a property owner grants permission to a governmental entity or utility company to construct or maintain a public right of way on their property, such as a road, railroad, or utility line. The subordination of lien allows the government or utility company to have a superior claim on the property, while the existing mortgage or deed of trust is repositioned to a secondary lien position. This means that in case of foreclosure or any legal action, the priority of repayment would go first to the government or utility company, followed by the existing lender. Keywords: Texas Subordination of Lien, Deed of Trust, Mortgage, Right of Way, property owner, governmental entity, utility company, public right of way, road, railroad, utility line, superior claim, secondary lien position, foreclosure, repayment priority. There are different types of subordination of lien related to right of way: 1. Texas Subordination of Lien (Deed of Trust to Right of Way): This type of subordination involves the repositioning of a deed of trust lien to a lower priority position, granting the right of way to a governmental entity or utility company. The property owner retains ownership of the property, but the right of way takes priority in case of any legal actions. 2. Texas Subordination of Lien (Mortgage to Right of Way): Similar to the previous type, this subordination involves moving a mortgage lien to a lower priority position to accommodate the right of way. The property owner remains responsible for the mortgage payments, but the right of way gains priority in terms of repayment in case of foreclosure or other legal proceedings. 3. Texas Subordination of Lien (Deed of Trust/Mortgage to Right of Way): This type of subordination encompasses both a deed of trust and mortgage, which are repositioned to a secondary lien position. It allows the government or utility company to establish a right of way and have a superior claim on the property, while the property owner retains ownership and responsibility for mortgage payments. In summary, the Texas Subordination of Lien (Deed of Trust/Mortgage to Right of Way) is a legal method of adjusting the priority of liens on a property to accommodate the establishment of a right of way by a governmental entity or utility company. It involves repositioning the existing liens to a secondary position, giving priority to the right of way in case of legal actions.