Jun 09 , 2016

Tampa School of Real Estate

Subordination Agreement

Definition:   a written agreement between holders of liens on a property that changes the priority of mortgage, judgement, or other liens under certain circumstances

Pronunciation:     \sə-bȯr-də-ˈnā-shən\  \ə-ˈgrē-mənt\

Used in a Sentence:   The seller of the land agreed to a subordination agreement in order for the land to be developed.