Liens Flashcards
1
Q
Liens
A
Turns property into collateral
2
Q
Mortgage Liens
A
A voluntary lien a homeowner has to its terms before signing the loan.
3
Q
Judgement Liens
A
A court ruling that gives a creditor the right to take possession of property.
4
Q
Mechanics Liens
A
Anyone that provides goods or services to the home.
5
Q
Broker’s Liens
A
A right to property or payment that a broker has if the buyer does not pay the money owed to the broker.
6
Q
Condo Liens
A
A security interest in the title of a property placed when the condo owner owes money.
7
Q
Lis Pendens
A
A notice that is placed on land records.
