A second or third mortgage on a piece of property, which already has a first mortgage.
Subordinate mortgage
One having a lower priority than another; the subordinate mortgage has a claim in foreclosure only after satisfaction of mortgages with priority.
Subordination
Moving to a lower priority, as a lien would if it changes from a first mortgage to a second mortgage.
Subordination agreement
An agreement by which a mortgage is made subject (junior) to a junior mortgage.
Subordination clause
Clause or document that permits a mortgage recorded at a later date to take priority over an existing mortgage.
Subpoena
Writ issued by the court requiring a person to appear as a witness or to provide written information in a case. Failure to observe the subpoena may result in a contempt of court citation.
Subpoena duces tecum
Legal order for a person to present at a deposition or trial documents in his possession, such as related to a real estate transaction.
Subrent
Process by which a lessee rents his apartment to another. Sublease.
Subrogate
The substitution of one person for another with the substituted person acquiring all rights.
Subrogation rights
Rights allowing an insurer to act against a negligent third party (including its insurance company) to receive reimbursement for payments made to an insured.
