Subordination

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Subordination

To put in an inferior class or order; to make subject to, or subservient. A legal status that refers to the establishment of priority between various existing liens or encumbrances on the same parcel of property.

A subordination agreement is a contract whereby a creditor agrees that the claims of specified senior creditors must be paid in full before any payment on a subordinate debt can be paid to the subordinate creditor.

A subordination clause in a mortgage is a provision that gives a subsequent mortgage priority over one that has been executed at an earlier date.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

subordination

n. allowing a debt or claim which has priority to take second position behind another debt, particularly a new loan. A property owner with a loan secured by the property who applies for another loan to make additions or repairs usually must get a subordination of the original loan so the new obligation is in first place. A declaration of homestead must always be subordinated to a loan. (See: subordination agreement)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in classic literature ?
I believe that the arrangement of the groups within each class, in due subordination and relation to the other groups, must be strictly genealogical in order to be natural; but that the amount of difference in the several branches or groups, though allied in the same degree in blood to their common progenitor, may differ greatly, being due to the different degrees of modification which they have undergone; and this is expressed by the forms being ranked under different genera, families, sections, or orders.
Though she did not feel the first intelligence as she might have done the day before, or an hour before, its interest soon increased; and before their first conversation was over, she had talked herself into all the sensations of curiosity, wonder and regret, pain and pleasure, as to this fortunate Miss Hawkins, which could conduce to place the Martins under proper subordination in her fancy.
Edward Freely was a man whose impulses were kept in due subordination: he held that the desire for sweets and pastry must only be satisfied in a direct ratio with the power of paying for them.
Mocanu, Differential Subordinations: Thoery and Applications, Monographs and Textbooks in Pure and Applied Mathematics Vol.
In this paper we study some applications of the theory of differential subordination defined on the space of univalent functions which are defined by linear operators.
Mocanu, Differential Subordinations, Theory and Applications, Marcel Dekker, New York and Basel, 2000, No.
Alb Lupas, A note on differential subordinations using Salagean and Ruscheweyh operators, CAIM 2009, Romai Journal, vol.
Mocanu, Differential subordinations and univalent functions, Michigan Math.
By way of a second example, courts have erroneously supposed that state law cannot effectuate equitable subordinations. Rather, equitable subordination is considered to be a uniquely federal remedy.
(29) This ongoing work on multidimensionality recognizes that, to dismantle any one form of neocolonial supremacy, including white supremacy, critical race and allied scholars must expose both the historical and contemporary workings of multiple forms of neocolonial subordinations as well as how they mutually reinforce each other in systematic, normalized, and oftentimes hidden ways.