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Jenna Realestate > Chapter 15 vocab > Flashcards

Chapter 15 vocab Flashcards

1
Q

A charge or claim against a persons property, to enforce the payment of money

A

lien

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2
Q

a lien that is created intentionally by the property owners actions

A

voluntary lien

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3
Q

a lien created by law

A

statutory lien

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4
Q

a lien created by a court judgment

A

Equitable lien

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5
Q

a lien that affects all the real and personal property owned by a debtor

A

General lien

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6
Q

a lien that is secured by and only affects certain property of the debtor

A

Specific lien

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7
Q

The order in which claims against property will be satisfied

A

Priority

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8
Q

A written agreement between lienholders to change the priority of a lien

A

Subordination

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9
Q

Charges imposed by state and local governments to fund their functions and services

A

Taxes

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10
Q

A type of tax based on the assessment of a property value

A

ad valorem

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11
Q

The official process of valuing real estate for tax purposes

A

Assessment

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12
Q

A device to achieve uniformity in statewide assessments

A

Equalization factor

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13
Q

1/1000 of a dollar, or $0.001

A

Mill

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14
Q

The right of a delinquent tax payer to recover property before a tax sale

A

Equitable right of redemption

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15
Q

The right of a delinquent tax payer to recover property after a tax sale

A

Statutory right of redemption

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16
Q

Taxes levied on specific properties that benefit from public improvement

A

Special assessments

17
Q

a specific, involuntary lien that gives security to persons or companies who perform labor, or who furnish material to improve real property

A

Mechanics lien

18
Q

a court decree that establishes the amount owed by a debtor and provides for money to be awarded

A

Money judgment

19
Q

A notice of a possible future lien based on a lawsuit

A

lis pendens

20
Q

a writ that permits a court to retain custody of a debtors property until the creditors lawsuit is concluded

A

Attachment

Jenna Realestate (21 decks)

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