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Model Consent, Non-Disturbance, and Subordination Agreement with Commentary, 2nd edition

2018
Organizations/Sources: Pennsylvania Land Trust Association
When a mortgage precedes an easement on a property, the possibility that one day the mortgage could be foreclosed poses a threat to the continued existence of the easement unless the holder of the mortgage signs an agreement that allows the easement to survive a foreclosure. In addition, "subordination" is necessary if a tax deduction will be sought for an easement donation. This model legal document provides a vehicle to satisfy both of these issues. Be sure to download both the model and the commentary.
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Pre-Existing Mortgages in Easement Transactions: Using Non-Disturbance and Subordination Agreements to Prevent Extinguishment and Comply with Tax Law

2019
Organizations/Sources: Pennsylvania Land Trust Association
When a mortgage predates an easement on a property, the easement could be extinguished in a foreclosure if the owners default on their mortgage payments. And if the easement is to be donated and the donors wish to obtain tax benefits, additional complications arise. These problems can be avoided by obtaining an agreement from the mortgage holder appropriate to the circumstances. [print version of ConservationTools.org guide]
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Aug 01, 2019
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