subject to


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Related to subject to: Subject to Change

subject to

adj. referring to the acquisition of title to real property upon which there is an existing mortgage or deed of trust when the new owner agrees to take title with the responsibility to continue to make the payments on the promissory note secured by the mortgage or deed of trust. Thus, the new owner (grantee) buys the property "subject to" secured debt. However, should the new owner fail to pay, the original debtor will be liable for the payment, but the holder of the mortgage or beneficiary of the deed of trust may foreclose and the buyer could thus lose title. This differs from the new title holder "assuming" the mortgage or deed of trust by a written transfer of the obligation. Such a transfer must be approved by the lender, since the new owner's credit may or may not be as strong as the original owner/borrower. (See: mortgage, deed of trust, assumption)

See: conditional, contingent, dependent, incident, liable, provided
References in periodicals archive ?
As of now, there are no clear guidelines as to whether an LLC member's share of profits is subject to SE tax.
Transactions not required to be blocked still might be prohibited and subject to enforcement action.
that are subject to acid rain provisions under Sections 404 through 406, 407 (a) and (b), and 410;
On that date, and on each anniversary of that date, a portion of the participant's interest in the plan ceases to be subject to a substantial risk of forfeiture and, therefore, the participant has wages that are required to be taken into account for FICA purposes as of each of these dates.
These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's prospectus and are beyond Zion's control.
Situation 2: The facts are the same as in Situation 1, except that Property 2 has a $340 FMV and is subject to a $140 liability, resulting in a $40 net increase in liabilities.
Revenue ruling 56-249 dealt with whether benefits from an employer-funded trust were subject to FICA and income tax withholding.
TSB-A-91(2)C, a foreign corporation leasing temporary employees to its clients in New York was subject to New York State franchise tax.
A taxpayer can be subject to the PFIC rules for stock held indirectly.
In general, anyone employed, carrying on business or earning pension or investment income in Canada or disposing of Canadian assets is subject to tax.
In addition, the Court held that International Shoe was subject to the jurisdiction of the Washington courts.
The team should coordinate a food delivery to the subject to build trust and rapport and to allow the tactical team to gain a closer look at the crisis site.