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.
Puerto Rico Subordination Agreement With Release of Lien As to Leasehold Estate is a legal document that governs the priority of liens on a leasehold estate in Puerto Rico. This agreement is critical when there are multiple liens on a leasehold estate and the parties involved want to establish the order in which these liens will be paid off in the event of a foreclosure or sale. The primary purpose of a Puerto Rico Subordination Agreement With Release of Lien As to Leasehold Estate is to subordinate one or more existing liens on a leasehold estate to a new lien or mortgage. By subordinating a lien, the lien holder agrees to have their claim or interest in the property fall behind the claims of other lien holders. This subordination is done to facilitate financing or to improve the priority position of a new lien. Keywords: Puerto Rico, Subordination Agreement, Release of Lien, Leasehold Estate, lien priority, foreclosure, sale, lien holder, claim, interest, financing. Types of Puerto Rico Subordination Agreement With Release of Lien As to Leasehold Estate may include: 1. Puerto Rico Subordination Agreement with Release of Lien as to Leasehold Estate — First Lien: This type of agreement would pertain to the first lien holder on a leasehold estate, seeking to subordinate their lien to another lien. 2. Puerto Rico Subordination Agreement with Release of Lien as to Leasehold Estate — Second Lien: This agreement is applicable when a second lien holder agrees to subordinate their lien to a new lien or mortgage. 3. Puerto Rico Subordination Agreement with Release of Lien as to Leasehold Estate Multiplieden holdersrs: This agreement involves multiple lien holders who agree to subordinate their respective liens to a new lien or mortgage, establishing the order of priority among them. 4. Puerto Rico Subordination Agreement with Release of Lien as to Leasehold Estate — Partial Release: This type of agreement involves the release of a part of the lien on the leasehold estate rather than the complete release, allowing for refinancing or further financing. These are just a few examples of the types of Puerto Rico Subordination Agreements With Release of Lien As to Leasehold Estate that may exist, and the specific terms and conditions of each agreement may vary depending on the parties involved and the circumstances of the leasehold estate.
