This agreement allows one lien holder to subordinate its deed of trust to the lien of another lien holder. For valuable consideration, a particular deed of trust will at all times be prior and superior to the subordinate lien.
A Montana Subordination Agreement of Deed of Trust is a legal document that establishes the priority of multiple mortgages or liens on a property. It outlines the agreement between the parties involved, such as lenders, borrowers, and other lien holders, regarding the order in which their claims will be paid in the event of a default or sale of the property. In Montana, there are different types of Subordination Agreements of Deed of Trust that serve various purposes: 1. Intercreditor Subordination Agreement: This type of agreement is commonly used when there are multiple lenders involved in a property transaction. It establishes the priority of each lender's mortgage lien, determining who will be paid first in the event of a foreclosure or sale. 2. Subordination Agreement with Subsequent Lien holder: This agreement is used when a property owner wants to obtain additional financing while an existing mortgage is already in place. The subsequent lender will require a subordination agreement to ensure that their lien will take priority over the existing mortgage. 3. Subordination Agreement with Junior Lien holder: This agreement is used when there is an existing mortgage on a property, and the property owner wants to obtain a second mortgage or additional lien. The junior lien holder will require a subordination agreement to establish their subordinate position to the existing mortgage. Keywords: Montana, Subordination Agreement of Deed of Trust, priority, mortgages, liens, lenders, borrowers, lien holders, default, sale, intercreditor, subsequent lien holder, junior lien holder.
