Escrow & Title
A Wisconsin 'subordination agreement' allows a senior lien holder to:
AMove their lien to a lower priority position to allow a new lender to take first position✓ Correct
BAccelerate payment of the subordinated debt
CTransfer the lien to another property
DExtinguish the subordinated lien
Explanation
A subordination agreement is a contract where a senior lien holder agrees to lower their lien's priority, typically to allow a new lender's mortgage to take first position (often needed in refinancing).
Related Wisconsin Escrow & Title Questions
- A Wisconsin mechanic's lien can be filed by:
- A Wisconsin mortgage is discharged when the lender records a:
- A Wisconsin 'settlement statement' (HUD-1 or Closing Disclosure) shows the buyer's cash needed at closing as:
- A Wisconsin buyer's 'HUD-1 Settlement Statement' has been replaced for most transactions by the:
- A Wisconsin 'quiet title action' is a court proceeding used to:
- Under Wisconsin law, the 'chain of title' refers to:
- A Wisconsin buyer who wants protection against title defects not discovered during the title search should obtain:
- A Wisconsin buyer's lender requires title insurance. Who typically pays for the lender's title policy?
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →