LIENS

A monetary claim which one person has upon the property of another as security for a debt is called a(n) _____.

lien

A person who has a right of lien upon the property of another is called a _____.

lienor

A person whose property is subject to a lien is called the _____.

lienee

A lien which arises when a mortgage is used to finance a home is called a _____ lien.

mortgage

An ad valorem tax lien occurs when _____.

ad valorem taxes are not paid

A special assessment tax lien occurs when _____.

a special assessment tax is levied (IMPOSED)

Ad valorem and special assessment tax liens attach to _____.

the real property that is taxed

Federal income tax liens attach to _____.

all real and personal property of the lienee

A lien which can be filed by anyone who supplies labor or materials in the construction or repair of property is called a _____ lien.

mechanic's

A mechanic's lien attaches to _____.

the real property on which work was done

How do you give notice of a claim against real property under a mechanic's lien?

file a notice of lis pendens

A lien which results from a legal action in court is called a _____ lien.

judgment

A judgment lien attaches to _____.

all real and personal property of the lienee

When a lawsuit results in a judgment lien, the sheriff is directed to sell the property of the lienee through a(n) _____.

writ of execution

After a judgment lien is awarded, a writ of execution results in a(n) _____.

sheriff's sale

The lien which arises when the proceeds from a foreclosure sale are insufficient to satisfy the outstanding indebtedness is called a _____ lien.

deficiency judgment

A deficiency judgment lien is associated with which of the following situations?

foreclosure

Does a deficiency judgment lien occur before or after a foreclosure sale?

after

A deficiency judgment lien attaches to _____.

all real and personal property of the lienee

Liens created by agreement of the parties are called _____ liens.

voluntary

Liens created by the operation of law are called _____ liens.

involuntary

Another name for an involuntary lien is a _____ lien.

statutory

A lien which attaches to all property owned by the lienee is called a(n) _____ lien.

general

A judgment lien is categorized as a _____ lien.

general

A judgment lien is categorized as a(n) _____ lien.

involuntary A judgment lien is created by an act of law (in court).

A deficiency judgment lien is categorized as a _____ lien.

general

A deficiency judgment lien is categorized as a _____ lien.

statutory

A federal income tax lien would be categorized as _____.

general

A federal income tax lien would be categorized as _____.

statutory

A lien which attaches only to a particular property identified in the lien is called a _____ lien.

specific

Another name for a specific lien is a _____ lien.

special

A mortgage lien is categorized as a _____ lien.

specific

A mortgage lien is categorized as a(n) _____ lien.

voluntary Mortgage liens are created by agreement between the parties.

An ad valorem tax lien is categorized as a _____ lien.

specific

An ad valorem tax lien is categorized as a _____ lien.

statutory

A mechanic's lien is categorized as a _____ lien.

specific

A mechanic's lien is categorized as a(n) _____ lien.

involuntary Mechanic's liens are created by the operation of law.

The legislation which establishes priority of liens in most states is called _____.

race statutes

With two exceptions, liens have priority from the date they are _____.

recorded

The type of lien which has priority over all others is a _____ lien.

property tax

Mechanic's liens take priority from the date _____.

work began

To transfer a title encumbered by a lien, the lien must be _____.

satisfied or assumed