Waiver of lien rights

This chapter does not prevent a mortgagee or other lien holder from waiving or subordinating at any time by agreement or otherwise the lien holder’s right to a lien, the priority or, if a preferred mortgage lien, the preferred status of the lien. (Source: (Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988, 102 Stat. 4741.))