Is a subordinate clause an independent sentence?
A subordinate clause is one that can’t stand alone as a sentence. It merely supplements a main sentence, adding meaning to the entire unit. This is an independent clause.
What is another word for subordinate?
What is another name for subordinate?
What do you mean by subordination?
: Placement in a Lower Class, Rank, or Position: The act or process by which someone or something is subordinated. As a prescriptive text the Bible has been used to justify the subordination of women to men
What are subordination requirements?
A subordination agreement is a legal document which establishes that one debt ranks higher than another in priority to collect repayment from a debtor. When a debtor defaults or declares bankruptcy, the priority of debts may become very important.
What does subordination mean in the workplace?
A subordinate role means that someone reports to them in a workplace. Subordinates are employees who rank below other employees in the corporate hierarchy.
What is the purpose of a subordination agreement?
Despite its technical name, the subordination arrangement serves a single purpose. This agreement assigns your mortgage to the first lien position. It makes it possible to refinance using a home equity loan, line of credit, or other type of credit.
When would a subordination agreement be appropriate?
A subordination agreement is often required when a borrower wishes to refinance a mortgage that has a first or second mortgage. A subordination agreement might be required if you have two mortgages on your house and want to refinance the first.
What is a subordination checklist?
If a Borrower wants to refinance their property, they will need to submit a request for subordination to the Lender. Lenders will only subordinate a Borrower’s loan if there is no cash out as part of the refinance.
How long does a subordination agreement take?
What is a subordination fee?
A subordination agreement allows a first lien, or interest, to be paid off. It also allows another mortgage company to enter and become the first priority lien holder. Subordination fees are very common.
What is subordination agreement in real estate?
Subordination clauses in mortgages refer to the portion of your agreement with the mortgage company that says their lien takes precedence over any other liens you may have on your property. A mortgage is the primary lien on a house. It is possible to have additional liens.
Does a subordination agreement need to be notarized?
Without a subordination agreement it is almost impossible to refinance a first mortgage. Notarization is required for the document agreeing to subordination.
Who benefits from a subordination clause?
Who Benefits from a Submission Clause? Subordination clauses are designed to protect the interests and best interests of the primary lender. The primary mortgage covers the purchase of the home. However, if there are secondary mortgages, the clause protects the interests of the primary lender.
What does notarised mean?
What is notarisation?
What is notarization? For example, they may certify that a signature has been signed by a person to verify that the person named in a document is actually the signer.
How do you use notarize in a sentence?
(1) The signature had to be notarized. (2) If a notary has any financial interest in the transaction, it is against state law to notarize documents. (3) These documents are often notarized by schools in exchange for a chance to have a graduate student study abroad.