chapter 10

Question 1

REFERS TO REAL ESTATE TAX ASSESSMENT, MEANS ACCORDING TO VALUE

Answer 1

AD VALOREM TAXS

Question 2

THE IMPOSITION OF A TAX, CHARGE, OR LEVY, USUALLY ACCORDING TO ESTABLISHED RATES

Answer 2

ASSESSMENT

Question 3

USED TO ACHIEVE FAIRNESS AND UNIFORMITY IN REAL ESTATE TAX ASSESSMENTS

Answer 3

EQUALIZATION FACTOR

Question 4

MEANING”PENDING LITIGATION”, ONCE RECORDED A LIS PENDENS GIVES NOTICE OF POSSIBLE FUTURE LIEN

Answer 4

LIS PENDENS

Question 5

A LIEN AS A RESULT OF A COURT ACTION (LAWSUIT)

Answer 5

JUDGMENT LIEN

Question 6

THE RIGHT OF A PROPERTY OWNER TO STOP MORTGAGE OR TAX FORECLOSURE BY PAYING THE LIEN OR TAXES, PLUS COSTS AND INTEREST

Answer 6

REDEMPTION

Question 7

SUBSTITUTION OF A NEW CONTRACT (DEBT OR OBLIGATION) BETWEEN THE SAME OR DIFFERENT PARTIES

Answer 7

SPECIFIC LIEN

Question 8

WHEN A DEFAULTING BORROWER PAYS THE LATE PAYMENTS AND FEES AFTER FORECLOSURE SALE, THEREFORE RETAINING OWNERSHIP

Answer 8

STATUTORY REDEMPTION

Question 9

IN ADDITION TO REAL ESTATE TAXES, A CHARGE BY THE TAX AUTHORITY TO PAY FOR MUNICIPAL IMPROVEMENTS

Answer 9

SPECIAL ASSESSMENT

Question 10

CHANGING THE PRIORITY OF A LIEN, MOVING A LIEN FROM 1ST PRIORITY TO 2ND PRIORITY

Answer 10

SUBORDINATION

Question 11

A TRUST ESTABLISHED BY WILL AFTER THE TRUSTOR’S DEATH

Answer 11

TESTAMENTARY TRUST

Question 12

VOLUNTARY, INVOLUNTARY,STATUTORY, AN EQUITABLE

Answer 12

FOUR WAYS TO CREATE A LIEN