Warning

Info

LSDefine

Simple English definitions for legal terms

subject to

Read a random definition: ready, willing, and able

A quick definition of subject to:

Subject to: When someone buys a property that already has a mortgage or loan on it, they may agree to take on the responsibility of making the payments on that loan. This means that they are buying the property "subject to" the existing debt. If they fail to make the payments, the original borrower is still responsible, but the lender can foreclose on the property and the new owner could lose it. This is different from "assuming" the loan, which requires approval from the lender.

A more thorough explanation:

Definition: Subject to refers to the acquisition of title to real property upon which there is an existing mortgage or deed of trust when the new owner agrees to take title with the responsibility to continue to make the payments on the promissory note secured by the mortgage or deed of trust.

For example, if John buys a house from Jane subject to the existing mortgage, John becomes the new owner of the property but is responsible for making the mortgage payments. If John fails to make the payments, the original debtor (Jane) will still be liable for the payment, but the holder of the mortgage or beneficiary of the deed of trust may foreclose and John could thus lose title.

This differs from the new title holder "assuming" the mortgage or deed of trust by a written transfer of the obligation. Such a transfer must be approved by the lender, since the new owner's credit may or may not be as strong as the original owner/borrower's.

Overall, subject to means that the new owner takes on the responsibility of paying the existing mortgage or deed of trust, but the original debtor is still liable if the new owner fails to make payments.

stay away order | submitted

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
im so dumb its literally Saturday
bbq it is
law school has made me unaware of the days of the week
me too, me too
amlaw
17:40
do you guys want to hear my newest irrational fear
[] ararara
18:18
That you have so much fun tonight dancing after the sun goes down you fall in love but way too hard and your heart pops!
[] ararara
18:19
Hi wherever you are hope you have a great Saturday! Stay hydrated!
hydrating! 👹
[] ararara
19:12
Hahah lolll show those fools your dance moves!! I am actually about to start working until about 4 in the morning so I can go out of town Tuesday so avenge me!
[] ararara
19:12
I came face to face with an Amazon worker on prime day though and that was crazy. Don’t think I’ll ever forget that. They looked completely drained it was insane.
rip to that young lad, wishing them hydration and days off from work. don’t work yourself too hard ara! chronic stress kills!
[] ararara
19:16
Thanks wasp right back at you! You too! This work is really interesting! It’s one of three jobs where it’s been hard to stop before school starts for sure.
babybunny
22:59
you have to be the art hoe gf u want to see in the world
willing
manifestmoreadmissions
0:24
bunny i am trying so hard idk if i can cut it
amlaw what's your fear
amlaw
10:02
that i got rejected from washu and just didn't see the email even though i've checked my spam and everything because they don't change their portals at all
that sucks :(
amlaw
10:36
and i know its crazy lol
hahaha yes it is crazy lol
babybunny
15:03
Heard Biden dropped out of the race. Made me remember when you said bye den dropped out of my life. You'll always be my first choice nominee. No need to text back
amlaw
15:03
i have never fully comprehended any of your messages bunny
when you said bye den dropped out of my life
i have a 3.38 and hope to get a 175+ on the LSAT
Does anyone know which schools place in federal positions outside of T14? UT,SMU, TAMU, George Mason, George Washington, ASU)
odds for sls waitlist this cycle?
Justvibin123
18:33
Who ever is accepted at Wayne state and is not attending can you please withdraw your app 🥹
LSD+ is ad-free, with DMs, discounts, case briefs & more.