| Real Estate 101 - Lien |
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| What is a lien? | |
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A financial claim on the property. A lien gives a third party the right to a portion of the money from the property's sale. The most common type of a lien is a mortgage, because the bank has a right to a refund of their money from the property's value. | |
| What is Mechanic's lien? | |
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Mechanic's lien is a lien that is filed by unpaid contractor on a property. | |
| What is a Judgement Lien? | |
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Judgement lien is a claim placed on a property or properties by creditors, allowed by a court decision. It is recorded at the county courthouse. It is attached to all the properties owned in a given county, as well as any properties purchased in that county for certain period of time. | |
| What is a Tax Lien? | |
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Tax Lien is a lien attached to a property or properties for nonpayment of income taxes. | |
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