Subordination Agreement
Definition of "Subordination agreement"
An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan.
Popular Real Estate Terms
Bond given by a building contractor to a public authority and guaranteed by a third party, usually a bonding company, that a contracted construction project will be completed within the ...
The ratio between a structure's total floor area and the total land area of the land upon which it is constructed. The floor area ratio definition is the ratio of the total amount of usable ...
Provision in a commercial lease providing a financial allowance for a tenant to finish the interior of a building according to individual requirements. ...
Borrower who gives property as collateral for a loan. ...
Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...
Real property located in an excellent area for its designated objective. An example is a restaurant situated near office buildings, on the main boulevard, so it is easy to see, and has ...
The portion of property income due to the ground value itself. It is used in a few states whereby an individual can own a structure and rent the ground to occupy a plot of land. ...
We call a concept ostensible when, at first sight, it appears to be accurate or valid. However, upon closer inspection, it proves to be a half-truth or completely false. For instance, Dale ...
Heated structure needed to raise fowl. ...
Have a question or comment?
We're here to help.