Liens (Monetary Encumbrances) Flashcards
1
Q
A lien against all property of a debtor, instead of a particular piece of property
A
General Lien
2
Q
A general lien placed by the Internal Revenue Service for nonpayment of income taxes
A
Income Tax Lien
3
Q
A lien that arises by operation of law, without the consent of the property owner. Also called Statutory Lien
A
Involuntary Lien
4
Q
A court order requiring one party to pay damages to the other
A
Judgment Lien
5
Q
A non-possessory interest in property, giving a lienholder the right to foreclose if the owner does not pay a debt owed the lienholder
A
Lien
6
Q
A lien that attaches only to a particular piece of property
A
Specific Lien
7
Q
A lien placed against property with the consent of the owner, such as a mortgage or deed of trust
A
Voluntary Lien
