Property Ownership
In Oregon, a 'subordinate lien' means:
AA lien placed by a government agency
BA lien with lower priority than another lien on the same property✓ Correct
CA lien that automatically self-releases after 5 years
DA lien held by a minority property owner
Explanation
A subordinate lien is one that has lower priority than another (senior) lien. In a foreclosure, senior liens must be satisfied before subordinate liens. For example, a second mortgage is subordinate to the first mortgage; judgment liens recorded after a mortgage are subordinate. Priority is generally determined by recording date — 'first in time, first in right' in Oregon.
Related Oregon Property Ownership Questions
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