Posted by Jasonrei on July 31, 2003 at 23:57:46:
“Seasoning” may mean “title seasoning”. It refers to the length of time title has been vested in the current owner. Some lenders require that title be vested in the seller’s name (seasoned) for at least 12 months. They believe properties that aren’t seasoned adequately have a higher likelihood of being inferior quality or simply overpriced.
“Subject to” might be used in a contract to make sure it’s clear to all properties involved that there IS, in fact, an existing mortgage. Just makes things clearer in case there is a dispute down the road.
That’s what I think anyway.