chapter 10 Flashcards
easement
the legal right someone has to use land that belongs to someone else
general lien
one placed against any and all real and personal property owned by a particular debtor
specific lien
attaches to a single item of real or personal property and does not affect other property owned by the debtor.
judgment liens
occur when someone loses a lawsuit and a judgment is placed against real property to pay for the judgment.
writ of execution
force the sale of attached property and collect the debt.
four ways a judgment lien can be terminated:
lien payment
lien expiration
bankruptcy
creditor discharge
attachment
the legal process of real or personal property being held by the courts to ensure a defendant in a lawsuit does not sell the property before a judgment has been issued.
notice of responsibility
a legal document used by property owners in the U.S. to protect themselves from liability for nonpayment for services done to improve that property.
How long is a California income tax lien valid?
10 years from the date it was filed
preliminary notice
the right to claim a lien within 20 days of providing labor, material, or services.