Real Estate 7

A lien is a claim or charge against property to enforce payment of money.

• True

• False

The party holding the lien is called the

• Lienor

• Lienee

• Tenant

• Tenantee

The part who has property encumbered by the lien is called the

• Lienor

• Lienee

• Trustee

• Trustor

Liens can be classified by how they affect property

• Specific

• General

• Voluntary

• Involuntary

A general lien is a claim against

• Just the improvements on the home

• All of a person's property, both real and personal

• Only real property

• Only personal property

A specific lien is a claim against a specific property, both real or personal

• True

• False

Liens made with the owner's consent

• specific lien

• voluntary liens

• involuntary liens

• general liens

Created by law and do not require the owner's consent

• specific liens

• general liens

• involuntary liens

• statutory liens

Involuntary liens can be further classified as

• compensation liens

• statutory liens

• required liens

• equitable liens

Involuntary statutory liens are

• created by state laws

• are created by the court

• are created by federal court

• are created by the establishment