See: Developer.

Commonly, a division of a single parcel of land into smaller parcels (lots) by filing a map describing the division, and obtaining approval by a governmental commission (city or county). The exception is a condominium, which is sometimes called a “one lot subdivision”.

A map submitted by a subdivider to the proper governmental body for approval in order to establish a subdivision. When the map is approved and recorded, it becomes the basis for the legal description of the subdivision.

Underflooring laid on joists, over which finish flooring is laid.

The right of an owner to have the surface of his land supported by the land under it, so that it does not collapse. Work on adjoining land (mining, excavating, etc.) could cause this problem. See also: Lateral Support.

A clause in a deed, stating that the grantee takes title “subject to” an existing mortgage. The original mortgagor is alone responsible for any deficiency, should there be foreclosure of the mortgage. Differs from an “assumption” clause, whereby the grantee “assumes” and agrees to pay the existing mortgage.

A lease, under which the lessor is the lessee of a prior lease of the same property. The sublease may be different in terms from the original lease but cannot contain a greater interest. Example: A leases to B for 5 years. B may sublease to C for 3 years, but not for 6 years. See also: Assignment of Lease.

The lessee under a sublease.

The lessor under a sublease.

To create a lease under which the lessee of a prior lease is the lessor.

To make subject or junior to.

Any loan below (subordinate to) a first mortgage.

An agreement by which an encumbrance is made subject (junior) to a junior encumbrance. For example: A loan on vacant land is made subject to a subsequent construction loan.

A legal process (writ) used to require the appearance of a person or documents into court.

The substitution of one person for another, so that the former may exercise certain rights or claims of the latter. Used primarily when a surety relationship exists, as in insurance.

To write under or below. To sign at the end of a document.

Settling of the ground surface from loss of support in the ground beneath. May be caused by mining, lowering of the water table, etc.

A subordinate loan issued to a select group such as firefighters, police, teachers or low income borrowers. It may be issued by a state or local government agency or by a nonprofit organization. The mortgage has a low interest rate and may even be forgiven under certain circumstances. Also called a Community Second Mortgage.

A grant to aid in any work or enterprise, or to reduce the cost of a product. The federal government, for example, aids certain low income families by subsidizing rental payments.

The principle in appraisal holding that a buyer will not pay more for property than the price of available similar (substitute) property.

A document which is recorded to change the trustee under a deed of trust. A simple procedure in some states;more regulated in others.