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4 Cards in this Set
- Front
- Back
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Are liens created as a means of satisfying or securing a debt?
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securing.
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What are statutory liens?
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Involuntary lien created by the operation of law. Statutory liens (such as a tax lien) do not require the consent of any party or a court order to be enforceable.
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Examples of general liens
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Tax lien or judgement lien
Federal income tax |
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Examples of specific liens.
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trust deed; mortgage liens; ad valorem tax
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