SECTION 5- LIENS

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The flashcards below were created by user Cshowalter on FreezingBlue Flashcards.


  1. Lien
    A lien is the right to claim property for the no-payment of a debt
  2. General liens
    are liens that are placed against both real and personal property such as judgementliens, IRS tax liens, estate tax liens ...
  3. specific liens
    is one that is placed against specific properties, such as mortgages, mechanics and real estate property tax liens.
  4. liens that take priority
    Real estate taxes and special assessments
  5. Mechanics liens
    A Mechanics Lien is a hold on real property for the benefit of someone who worked on the property.  

                - Mechanics Liens are only considered valid if they have been verified and recorded.

                -  All Mechanics Liens take priority as of the first day of construction, and may even take priority earlier than their date of recording.
  6. Attachment
    the process of taking property into legal custody is called attachment.
  7. Lis Pendens
    Lis Pendens is a notice of pending litigation pertaining to a property and it may affect the Title, pending the results of the litigation. The Lis Pendens remains in effect until either there is a judgment, or the litigation is dismissed.
  8. Write of Execution
    Writ of Execution is a court order to sell property to satisfy a judgment.
  9. Injunctions
    Injunctions are a court order to stop or prevent certain action(s) by certain individual(s) or entities

Card Set Information

Author:
Cshowalter
ID:
333271
Filename:
SECTION 5- LIENS
Updated:
2017-08-03 13:56:44
Tags:
SECTION LIENS
Folders:
SECTION 5- LIENS
Description:
SECTION 5- LIENS
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