This form is one of the Uniform Conveyancing Blanks developed by Minnesota Uniform Conveyancing Blanks Commission pursuant to Minnesota Code Section 507.09. These forms, which pertain to the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien, have been approved by the Commissioner of Commerce. The form is available here in PDF format.
Minnesota Subordination Agreement by Business Entity - UCBC Form 20.8.2
Category:
State:
Minnesota
Control #:
MN-1047M
Format:
Word;
PDF;
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How to fill out Minnesota Subordination Agreement By Business Entity - UCBC Form 20.8.2?
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An example of a subordination agreement is when a business obtains a second mortgage on its property after an initial mortgage has been issued. In this case, the Minnesota Subordination Agreement by Business Entity - UCBC Form 20.8.2 can be used to ensure that the second mortgage is subordinate to the first. This agreement helps lenders understand their position in the repayment hierarchy, which is vital when making lending decisions. Utilizing platforms like uslegalforms can simplify the process of drafting and implementing such agreements for your business.
