If a second mortgage was recorded before the first mortgage, which mortgage has priority?

Get Legal Help Today

secured lock Secured with SHA-256 Encryption

If a second mortgage was recorded before the first mortgage, which mortgage has priority?

I have a mortgage and a home equity line. Both were signed at the same time The home equity line (second mortgage) was recorded first at the clerk of courts. The mortgage was not recorded until 2 months later. Which is in first position?

Asked on April 13, 2011 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

For a definitive answer, you should have an attorney review the documentation and circumstances in detail with you. As a general rule of thumb, time of recordation would not affect priority if there were terms in one or both loans stating their respective priority. For example, if the mortgage was denominated a first mortgage and the home equity line of credit a second mortgage, or the HELOC was stated to be subordinate to either first mortgages generally or this mortgage in particular, then then terms setting priority would control and the mortgage would have higher priority. Also if both were with/through the same lender, that lender can, and presumbly, establish the relative priority of its loans.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption