Liens (Ch. 5) Flashcards
1
Q
Tax Lien Sale
A
When the liens are auctioned off to the highest bidder
2
Q
Tax Lien Priority
A
Real Estate Taxes Always have First Priority even over IRS Liens
3
Q
Mechanics Lien
A
Gives security to persons or companies that perform labor or furnish material to improve real property
4
Q
Judgements
A
Order issued by a court that settles defines the right obligations of the parties to a lawsuit
5
Q
Mortgage Liens
A
A voluntary lien on Real Estate given to a lender by a borrower as security for a Real Estate Loan
