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§ 4-111. Subordination of interests

West's Annotated Code of MarylandReal Property

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 4. Requisites of Valid Instruments (Refs & Annos)
Subtitle 1. General Rules (Refs & Annos)
MD Code, Real Property, § 4-111
§ 4-111. Subordination of interests
Currentness
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Lender” means a person holding an interest in or lien on property pursuant to a mortgage or deed of trust.
(3) “Subordination agreement” means an agreement establishing priorities:
(i) Between or among lenders; or
(ii) Between or among a lender and any other person or persons holding an interest in property.
Subordination of interest to another lender or to property interest of others
(b) A lender may subordinate its interest under a mortgage or deed of trust to the interest of another lender or to the property interest of a person, through execution of a subordination agreement on behalf of the subordinating lender by:
(1) As to a lender secured by a mortgage, the mortgagee or assignee; or
(2) As to a lender secured by a deed of trust, the trustee or successor trustee or the holder of the note or other obligation secured by the deed of trust.
Application of section
(c) This section applies to all subordination agreements existing on or after October 1, 1997.

Credits

Acts 1997, c. 633, § 1, eff. Oct. 1, 1997.
MD Code, Real Property, § 4-111, MD REAL PROP § 4-111
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document