2025 Session
Last amended: 1991 session
§ 336.2A-311 — Priority Subject to Subordination
Plain-Language Summary
This section provides that nothing in the Article 2A leasing rules prevents a person who is entitled to priority from voluntarily giving up that priority by agreement. In other words, a party with a higher-ranking interest may agree to be subordinated to another party.
336.2A-311 PRIORITY SUBJECT TO SUBORDINATION.
Nothing in this article prevents subordination by agreement by any person entitled to priority.
History:
History: History:
1991 c 171 art 1 s 7
Practical Notes
A lessor or other party that holds a priority position under these leasing rules can agree to let another party’s interest come first. Subordination is done by agreement, so the priority rankings can be rearranged voluntarily when the party entitled to priority consents.