Dictionary

Subpoena

Definition:   a legal process ordering a witness to appear and give testimony under penalty of law Pronunciation:   \sə-ˈpē-nə\ Used in a Sentence:   I received a subpoena to appear as a...

Subordination Clause

Definition:   a clause in which the holder of a mortgage permits a subsequent mortgage to take priority Pronunciation:   \sə-ˈbȯr-də-ˈnā-shən\ \ˈklȯz\ Used in a Sentence:    This clause provides that if a...

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...

Sublease

Definition:   a lessee leasing a property to a third party for a period of time less than the original lease.  Also called subletting. Pronunciation:   \ˈsəb-ˈlēs\ Used in a Sentence:   When...

Subject To The Mortgage

Definition:   a buyer makes regular periodic payments on the mortgage but does not assume responsibility for the mortgage Pronunciation: Used in a Sentence:   When a property is sold subject to...

Subject Property

Definition:   a reference to the real property under discussion, or the real property under appraisal Pronunciation:    \ˈsəb-jikt\ \ˈprä-pər-tē\ Used in a Sentence:    The appraisal of the subject property came back...