TERMIUM Plus®

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CREANCIERE HYPOTHECAIRE RANG INFERIEUR [1 record]

Filter results by subject field Alphabetical list of terms

Filter results by subject field

Alphabetical list of terms

Record 1 2015-09-17

English

Subject field(s)
  • PAJLO
  • Law of Security
CONT

Second (or third) mortgage that is subordinate to the previous (senior) mortgages on the same property. In case of a default by the mortgagor (borrower), the senior mortgagee(s) will have to be paid off first, before the junior mortgagee(s) can get any money from the proceeds of the mortgaged property's sale. For this reason, junior mortgage interest rates are usually higher.

French

Domaine(s)
  • PAJLO
  • Droit des sûretés
OBS

créancier hypothécaire de rang inférieur; créancière hypothécaire de rang inférieur : termes normalisés par le Comité de normalisation, Promotion de l’accès à la justice dans les deux langues officielles (PAJLO).

Spanish

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