Lease Subordination Agreement - Minnesota 2025

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The lease will include a provision that requires the tenant to subordinate its lease to all existing and future loans. This gives the lender the option, after a foreclosure, to either recognize the lease or terminate it.
What is Subordination? Subordination is putting something in a lower position or rank. Therefore, a subordination agreement puts the lease below the mortgage loan in priority. Mortgage lenders want the leases to be subordinate to the mortgage. That way, the mortgage loan is paid first if there is a foreclosure.
The Subordination of Lease clause establishes that the tenants lease is subordinate to the liens of any current or future mortgages on the property, giving the mortgage lenders rights priority over the tenants rights.
Example of a Subordination Agreement A standard subordination agreement covers property owners that take a second mortgage against a property. One loan becomes the subordinated debt, and the other becomes (or remains) the senior debt. Senior debt has higher claim priority than junior debt.
A subordination agreement must be signed and acknowledged by a notary and recorded in the official records of the county to be enforceable.

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Who Executes a Subordination Agreement? Typically, the new lender will prepare the subordination agreement, working with the subordinating lienholder. In some cases, both parties will sign the agreement but in others, only the subordinating lender will need to sign.

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