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7 Cards in this Set
- Front
- Back
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Which lien affects all real and personal property
of a debtor? a. specific b. voluntary c. involuntary d. general |
d. general
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priority of liens refers to which of the following?
a. order in which a debtor assumes responsibility for payment of obligations b. order in which liens will be paid if property is sold to satisfy a debt c. dates liens are filed for record d. fact that specific liens have greater priority than general liens |
b. order in which liens will be paid if property is sold
to satisfy a debt |
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A lien on real estate made to secure payment for a specific municipal improvement project is which of
the following? a. mechanic's lien b. special assessment c. ad valorem d. utility lien |
b. special assessment
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Which of the following would be classified as a general lien?
a. mechanic's lien b. bail bond lien c. judgement d. real estate taxes |
c. judgement
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Which lien usually would be given highest priority in disbursing funds from a foreclosure sale?
a. mortgage dated last year b. real estate taxes due c. mechanic's lien for work started before the mortgage was made d. judgement rendered the day before foreclosure |
b. real estate taxes due
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Which tax would target homeowners in particular?
a. personal property tax b. sales tax c. real property tax d. luxury tax |
c. real property tax
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Which of the following is a voluntary, specific lien?
a. IRS tax lien b. mechanic's lien c. mortgage lien d. seller's lien |
c. mortgage lien
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