Junior Lien
Definition of "Junior lien"
A lien which is secondary to a senior lien and cannot be paid until the senior lien is satisfied.
Popular Real Estate Terms
Individual with legal privileges and obligations. The legal term is sometimes used for a corporation. ...
A clause that may be inserted into a purchase agreement or a lease indicating that subject property must be properly maintained in order to validate the contract. The effect is to create ...
Valuing real property based on the expected cost to buy property of identical value. The replacement cost to build a structure should be based on current prices. The appraisal should ...
Lawsuit brought by one or more persons of a large group for the benefit of all members of the group. ...
Category of property zoning that designates property to be used for industrial purposes. Industrial zoning allows manufacturing, research and development purposes, factory office and ...
Lienholder's statement as to the unpaid balance on a trust deed note. ...
An adjustment to the internal rate of return (IRR) computation so as to improve this measure. This uses a risk-free after-tax rate and a customary rate for money reinvestment. ...
Storage of inactive items, including automobiles, for a certain period. Normally, a storage facility, charging a fee, provides dead storage of items. To prevent deterioration, dead ...
Regularly, subsequent means something which occurs at a later date. In other words, a subsequent event follows a prior occurrence. For example, new circumstances arise after a contract is ...
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