This form is used when Lienholder subordinates all liens created by the (Mortgage/Deed of Trust) to the Lease and releases the leasehold estate created by the Lease from all liens created by the (Mortgage/Deed of Trust) and all extensions and renewals of the liens. Lienholder does not waive or release any of its rights under the (Mortgage/Deed of Trust) on or against any royalty interest reserved by the Lessor.
A Kentucky Subordination Agreement With Release of Lien As to Leasehold Estate is a legal document that allows a lien holder to subordinate their rights to a leasehold estate in order to prioritize the interests of another creditor. This agreement is commonly used in real estate transactions when there are multiple liens related to a leasehold estate. This type of subordination agreement is crucial in situations where a property has an existing lien, and the owner wants to secure additional financing or sell the property. By executing the agreement, the lien holder agrees to release their claim on the leasehold estate in favor of another creditor, granting them a higher priority position. Keywords: Kentucky, subordination agreement, release of lien, leasehold estate, lien holder, creditor, real estate transactions, financing, property, priority position. Different types of Kentucky Subordination Agreement With Release of Lien As to Leasehold Estate: 1. Deed of Subordination and Release of Lien As to Leasehold Estate: This agreement specifically pertains to the transfer of ownership rights and the release of liens on a leasehold estate. It involves subordinating the interests of one creditor to another while releasing any claims on the leasehold estate. 2. Mortgage Subordination Agreement With Release of Lien As to Leasehold Estate: This type of subordination agreement is used when there is a mortgage lien on a leasehold estate. It allows the mortgagee to subordinate their lien to another creditor while releasing their claim on the leasehold estate, typically in the context of refinancing or obtaining additional financing. 3. Security Agreement Subordination With Release of Lien As to Leasehold Estate: In commercial transactions, this agreement is commonly used when a creditor holds a security interest in a leasehold estate. The agreement enables the creditor to subordinate their security interest to another creditor while releasing their lien on the leasehold estate. This is often seen in cases when a tenant assigns their leasehold interest as collateral for a loan. 4. Vendor's Lien Subordination Agreement With Release of Lien As to Leasehold Estate: This specific subordination agreement is used when a vendor (seller) holds a lien on a leasehold estate, typically in the context of a purchase or sale transaction. It permits the vendor to subordinate their lien to that of a new financing or mortgage while releasing their claim on the leasehold estate. In summary, a Kentucky Subordination Agreement With Release of Lien As to Leasehold Estate is a vital legal document that allows lien holders to prioritize the interests of other creditors in relation to a leasehold estate. The specific type of agreement required will depend on the nature of the lien and the transaction involved, such as a deed transfer, mortgage, security interest, or vendor's lien.
