This office lease is subject and subordinate to all ground or underlying leases and to all mortgages which may affect the lease or the real property of which demised premises are a part and to all renewals, modifications, consolidations, replacements and extensions of any such underlying leases and mortgages. This clause shall be self-operative.
Tennessee Subordination Provision
Category:
State:
Multi-State
Control #:
US-OL20022A
Format:
Word;
PDF
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How to fill out Subordination Provision?
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FAQ
A deed that transfers a married person's homestead must be signed by both spouses?even if only one spouse owns the property.
They are on the deed, and thus have legal title rights to the property. They are not on the mortgage, however, and are technically not liable for paying the mortgage. This is a unique but all too uncommon circumstance, and seeking legal advice regarding financial protections is not a bad idea.
Tennessee is not a community property state. Like most states in the Union, Tennessee has adopted equitable distribution as its governing law, which strives to make things equitable, not equal, between divorcing partners?a subtle, but important distinction.
Tennessee does not recognize community property, homestead, or dower and curtesy. This means that spouses can buy, sell, or own property without the involvement of the non-owner spouse. The only exception to this is when using a deed of trust.
The Subordinated Lender hereby agrees that all Subordinated Obligations (as defined below) and all of his right, title and interest in and to the Subordinated Obligations shall be subordinate and junior in right of payment to the Senior Lender Loan and all rights of Senior Lender in respect of the Senior Lender Loan, ...
If you have a surviving spouse, he or she will receive your entire Estate if you had no descendants at the time of your death. If you are survived by descendants, your spouse is entitled to either (a) one-third (1/3) of your estate, or (b) a child's share, whichever is greater.
