General
Which lien affects all real and personal property of a debtor? Specific, Voluntary, Involuntary or General
Order in which liens will be paid if property is sold to satisfy a debt.
Priority of Liens
Special Assessment Lien
A lien on real estate made to secure payment for a specific municipal improvement project.
Judgment Lien
Which of the following is classified as a general lien? Mechanic's Lien, Bail Bond Lien, Judgment, Real Estate Lien
Real Estate taxes due
Which lien usually would be given highest priority in disbursing funds from a foreclosure sale?
$4,800
A specific parcel of real estate has a market value of $160,000 and is assessed for tax purposes at 75% of market value. The tax rate for the county in which the property is located is 40 mills. The tax bill will be...
Real Property Tax
Which tax targets homeowners in particular? Personal Property, Franchise, Real Property, Luxury
Record a notice of the lien and file a court suit within the time required by state law
A mechanic's lien claim arises when a contractor has performed work or provided material to improve a parcel of real estate on the owner' order and the work has not been paid for. Such a contractor has a right to....
$1,477
What is the annual real estate tax on a property valued a $135,000 and assessed for tax purposes at $47,250, with an equalization factor of 15%, when the tax rate is 25 mills?
Mortgage Lien
Which of the following is a voluntary, specific lien? IRS Tax, Mechanics, Mortgage, Seller's
Judgment
A seller sold a parcel of real estate. Title has passed, but to date the buyer has not paid the purchase price in full, as originally agreed. If the seller wants to force payment, which remedy is the seller entitled to seek? Attachment, Mechanic's Lien, L
Lis Pendens
A general contractor recently filed suit against a homeowner for nonpayment. The contractor now learns that the homeowner has listed the property for sale with a real estate professional. In this situation, what will the contractor's attorney use to prote
Mechanic's Lien
Special Assessment Lien's take priority over what type of lien?
Unpaid Mortgage Loan
Which of the following creates a lien on real estate? Easement running with the land, Unpaid Mortgage Loan, License, Encroachment
Apartment Buildings
All of the following probably would be exempt from real estate taxes, EXCEPT...public hospitals, golf course, synagogues and churches, and apartment buildings.
Ad Valorem Taxes
General real estate taxes levied for the operation of the government are known as what?
Real Estate Tax Lien
Which of the following is a specific, involuntary, statutory Lien? Real Estate Tax, Income Tax, Estate Tax, Judgment
Equitable Right of Redemption
The right of a defaulted taxpayer to recover property before its sale for unpaid taxes is the
Real Estate Professional
A mechanic's lien would be available to all of the following EXCEPT subcontractors, contractors, surveyors, real estate professionals.
It involves a debtor-creditor relationship
A mortgage lien and a judgment lien both involve what type of relationship?
Real estate taxes
Generally, in a court ordered sale, which of the following is paid first?
Mortgage lien
Which of the following is an example of a specific lien?
$1,402.5
the millage breakout for ad valorem taxes are: library;.5; school;1; school debt service; .5; community college: 1; vocational school: .5; and all others: 5. If the property is assessed at $165,000 how much is the tax bill?
lis pendens
All of the following are liens against real property EXCEPT
Specific, involuntary lien
Which of the following characteristics apply to a real estate tax lien?
Special assessment
Which of the following may be either an involuntary or voluntary lien on real property?
writ of execution
Which of the following would permit a law enforcement officer to seize a debtor's property?
Specific, statutory, and voluntary
If the property owners in a neighborhood petition the city for new sidewalks and paved alleys which of the following BEST describes the character of the lien that may result if the city agrees to the improvements?
Federal Tax Lien
Which of the following is a general, statutory, and involuntary lien on both real and personal property?
Ventnor-Bill-Marke Mortgage-Don's Cars
The owner stopped making mortgage payments to Marke Mortgage in June. In February, the owner contracted with Bill to have his billiard room converted into a sauna and never paid for the work. The owner is two years delinquent in property taxes in Ventnor
Special assessment
A town wants to construct new concrete curbs in a residential neighborhood. How will the town most likely raise the money necessary for the improvement?
Real Estate Tax Lien
All of the following liens must be recorded to be effective EXCEPT
$960
The market value of an undeveloped parcel is $40,000. Its assessed value is 40 percent of market value, and properties in its count are subject to an equalization factor of 1.50. If the tax rate is $4 per $100, What is the amount of the tax owned on the p
lis pendens
To establish a potential claim against the property and to establish priority, one needs to file a(n)
No, because there was no express or implied contract between Soo Lan and Yanni.
Soo Lan was considering having a new garage built. So Lan talked about the project with several contractors including Yanni. In April, while Soo Lan was on vacation, Yanni began building the garage according to Soo Lans specifications. Work was completed