The subordination clause, also known as the subordinate clause in real estate, finance, and banking, refers to the order of priorities in claims for ownership or assets. The subordination clause is the legal agreement that establishes the order of priorities …
A prepayment penalty is a fee some mortgage lenders charge if a borrower pays off their loan too quickly. Sounds a little crazy, right? Well, it kinda is! In this post we are going define prepayment penalties and the prepayment …
If a mortgage exists, odds are it includes an acceleration clause. The clause requires a borrower to repay all of an outstanding loan upon a breach of the contract. A clause identifies a particular section of a real estate contract …
In certain states, a defeasance clause is a required contract provision that ensures that the title for the property is transferred to the buyer once the mortgage is fully paid off. A clause identifies a particular section of a real …
Lets talk about the alienation clause, also known as the due-on-sale clause. Don’t worry it has nothing to do with extraterrestrial life. The act of transferring title, ownership, an estate, or an interest in real estate from one party to …
The habendum clause typically is a section of a contract that deals with rights and to whom or what is granted. A clause identifies a particular section of a real estate contract (for those of you who don’t know). There …