Zusammenfassung der Ressource
LIENS
- TYPES
- GENERAL
- non-secured
- Affects both real & personal property
- tax liens except real property tax
- judgment liens
- SPECIFIC
- secured
- A particular property
- vendor liens
- condo liens
- homeowners association
- uniform commercial code
- lis pendens
- JUDGMENTS
- Monetary
- Monies awarded
- Enforcement: writ of execution
- Declaratory
- judicial decree
- TAX LIENS
- failure to pay
- federal tax
- state tax
- local tax
- tax sales are held
- can buy back property
- equitable right of redemption
- tax deed are given to
purchaser for real
property tax
- estate/ inheritance tax
- MORTGAGE
- voluntary lien
- subordination agreement
- states that they
have lower priority
- satisfaction of mortgage
- mortgage paid
- mortgage instrument
- promissory note
- CONSTRUCTION LIENS
- notice of commencement
- states when
constructions begins
- automatically
expires after a
specified period
- claim of lien
- no payment received
- a/k/a mechanic lien
- voluntary lien
- notice to owners
- states that payments expected
- notice of nonresponsibility
- protects the owner
from unauthorized
work or material
- LIEN PRIORITY
- the date lien was recorded
- exceptions
- real property tax lien
- priority over all other lien
doesn't need to be recorded for
enforcement
- construction liens
- starts when notice of
commencement was filed
- judgment liens
- priortity date: the date court enter
judgment
- first in time, first in right
- Writ of attachment
- protects lienholder
- cant transfer title in
a pending lawsuit
- SATISFYING LIENS
- JUDGMENTS
- satisfaction of judgments
- mortgage liens
- satisfaction of mortgage
- CONSTRUCTION LIENS
- lien waiver of lien release
- when full payment received
- partial lien waivers
- partial payments are made
- LIS PENDENS
- notice when a lawsuit affects a specific
property
- cut off rights of any
other party
interested