Encumbrances & Liens - Lien Priority Flashcards
1
Q
Order in which liens against a property are satisfied
The highest priority lien is paid by foreclosure proceeds before any other lien
A
Lien Priority
2
Q
Real estate tax liens
A
Superior lien priority by date of recording
3
Q
Special assessment Liens
A
Superior lien priority by date of recording
4
Q
Federal income tax liens
A
Junior lien priority by date of recording
5
Q
Judgement liens
A
Junior lien priority by date of recording
6
Q
Federal estate tax liens
A
Superior lien priority
7
Q
State Inheritance tax liens
A
Superior lien priority
8
Q
Mortgage liens
A
Junior lien priority
9
Q
Vendor’s liens
A
Junior lien priority
10
Q
Mechanics liens (priority by date work performed)
A
Junior lien priority
