Lesson 6 Flashcards
All of these statements regarding restrictive covenants on real property are true EXCEPT that they
are limited to a specific time period
Which lien affects all real and personal property of a debtor?
General
A property owner who has the legal right to use a neighbor’s land holds a(n):
easement
If a subcontractor filed a lien for work done on a new building, what type of lien was most likely filed?
Mechanic’s lien
Because a homeowner failed to pay the real estate taxes on time, the taxing authority imposed a claim against the homeowner’s property. This claim is known as a(n)
Lien
A mechanic’s lien would be available to all of the following EXCEPT a:
Broker
Which of the following is a voluntary, specific lien?
Mortgage lien
Shoddy Construction Co. was hired to remodel the Brown’s kitchen. It agreed to work without a written contract. To obtain a mechanic’s lien, it must
file within 90 days of completing the job
Property in Massachusetts must be reassessed at
100 percent of the market value
All of the following can file a mechanic’s lien EXCEPT
the owner
The lien with the greatest priority of the following is:
A special assessment lien
If there is no redemption of the property, how long must a tax sale purchaser wait before starting action to obtain title to the land?
One year from the date of the tax sale
Which lien would have top priority in the event of foreclosure of the subject property?
State property tax lien recorded last
How long does an owner have to redeem property sold for back taxes?
6 Months
The lender wants to ensure the first priority of its lien. The lender should do all of the following EXCEPT:
verify the health of the borrower
