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40 Cards in this Set
- Front
- Back
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When is a personal property lien lost?
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When possession is voluntarily relinquished
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A person in lawful possession of goods can subject them to what kind of lien?
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A GSSL maximum of $100 and a MVL w/o maximum
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How does consumer protection apply to GSSLs?
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The lienor can assert the lien for no more than the reasonable value of its services even if the contract price was higher
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What rights does a purchaser get at a lien foreclosure sale?
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all the rights that the lien holder conducting the sale has -- the purchase will take priority over a preexisting Art. 9 security interest only if the lien holder's claim has priority over that interest
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Who can subject real property to a lien?
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Owners, tenants & buyers who only have the property under contract
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Real property lien vs. later perfected mortgage
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Real property lien defeats a later perfected mortgage interest even if the mortgagee does not know that the lienor's work has commenced
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A contractor unpaid for work completed for a tenant in a shopping center is entitled to a lien on what?
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the entire shopping center
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For what dollar amount can a lien of real property be?
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the value of the work done (no attorneys fees or contract damages)
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Who cannot claim a lien on RP?
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Real estate appraiser
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Who can claim a lien on RP?
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Surveyors, demolition firms, architects, civil engineers and consultants, excavators, carpet installers (if the carpet is "permanently installed"), supplier of goods used in real estate (e.g. Sears - air conditioner), firm that leases a crane used during construction
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What is the rule for determining priority between a real property lien and a mortgage?
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First in time; first in right
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Visible commencement is not required for whom?
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architects and engineers
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What does the NC statute say about the rights of second tier subs?
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Second tier subs are subrogated to the rights of first tier subs
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To assert a lien upon funds, what must a sub do?
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Send a letter asserting that it has not been paid and providing a brief description of the work performed
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What happens if the owner ignores notice of a lien?
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The owner becomes personally liable for amounts owed to the sub, and the sub can get a lien on the owner's land
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What happens if another party ignores notice of a lien (and what is the exception)?
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the party becomes personally liable for amounts owed to the sub, unless it has already paid out all that it owes
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How can a general contractor cut off a second tier subs ability to get a lien on the real estate?
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by sending notice to the second tier sub that it has made a payment to the first tier sub
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Who has priority?
tax liens vs. any other intersts or state law claims |
the government always wins
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Who has priority?
city tax lien vs. county tax lien |
pro rata sharing
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When do taxes due become a lien on the property?
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From the day the property is listed for tax purposes
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Are tax liens in the chain of title for a parcel of property?
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Yes, and everyone is deemed to have constructive notice
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How do multiple judgment lien holders determine priority in after-acquired property?
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they share it pro rata
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What types of liens are NC courts very hesitant to issue?
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attachment liens
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What must a plaintiff show to get an attachment lien?
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EITHER:
1. risk the defendant will be unavailable at the time of judgment, or 2. risk the defendant's assets will be unavailable because they have been secreted away |
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Can a plaintiff get an attachment lien if a defendant has property in NC and leaves the state for a definite period of time?
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No
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Can a plaintiff get an attachment lien if a defendant has property in NC and leaves the state for an indefinite period of time?
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Yes
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Can a plaintiff get an attachment lien against a non-resident defendant who has property in NC?
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Yes
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What has priority over pre-existing art. 9 security interest? And what exceptions?
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personal property liens. Landlord and innkeeper liens.
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What are the essential elements of a general service and storage lien?
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work must be performed pursuant to the contract and in the ordinary course of the lienor's business.
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When does a real property lien begin?
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at the time of the first furnishing of goods/services at the worksite.
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When must a real property lien be filed?
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Within 120 days of completion of the work.
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When must suit for enforcement of a real property lien be brought?
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Within 180 days of the completion of work.
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What happens if a sub-contractor is not paid and gives notice to the party owing the money?
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The owner of the property can become personally liable on the amount owed and the sub can get a lien on the owner's land.
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How can an owner defeat a sub's claim of a lien and personal liability on the real property?
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By paying the money owed to the general contractor prior to the sub filing notice.
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How can first tier subs obtain a lien on the real estate?
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Through the improper payment lien - notice and failure to pay.
OR Through the subrogation lien - first tier hasn't been paid and owner hasn't paid gen contractor. |
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What type of judgments can give rise to judgment liens?
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Money judgments
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What happens if the creditor fails to act within 30 days of notice from the surety claiming the NC statutory exception?
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The surety is discharged only to the extent of any loss caused by the delay
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What does the judgment lien attach to?
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Only real property
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What does the doctrine of instantaneous seisin do to a judgment lien?
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Subordinates a prior judgment lien to a seller's or 3d party financier's PMM.
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How long does a judgment lien last?
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10 years, but can be renewed.
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