intervening lien real estate definition
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What Is a Property Lien? Share on Facebook. A lien is a notice attached to your property telling the world that a creditor claims you owe it some money. A lien is typically a public record. It is generally filed with a county records office (for real property) or with a state agency, such as the secretary of state (for cars, boats, office equipment, and the like). Liens on real estate are a common way for creditors to collect what they are owed.
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Escrow Escrow generally refers to money held by a third-party on behalf of transacting parties. It is best known in the United States in the context of real estate (specifically in mortgages where the mortgage company establishes an escrow account to pay property tax and insurance during the term of the mortgage).
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- Real Property Encroachments. In property law, an encroachment is an intrusion on the land or property owned by another. Real estate encroachments commonly occur when one property owner violates the property rights of an adjacent property owner by building on that neighbor's land.
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Wang Electric v. Smoke Tree: Liens and Leasehold Improvements Liens against the Tenant and Owner. When work is initiated by a tenant, a mechanics lien is effective against the property owner only if the tenant is an agent of the owner. In this case, the tenant was determined to be the owners agent, and the court ruled that service on one was the same as service on the other.
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- investors, or developers who use the funds primarily for the acquisition, development, or. operation of commercial real estate. Borrower’s loans are evidenced by promissory notes from. its borrowers (“Notes Receivable”) that are secured by first priority liens on undeveloped land or.
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Learn About Subagency in Real Estate Definition: Subagency refers to a specific client representation relationship between a property listing broker or real estate agent and another real estate broker or agent who brings the buyer to purchase the property. In subagency, the agent bringing the buyer is actually working for the seller as a subagent of the listing broker.
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What is EQUITABLE LIEN? What is EQUITABLE LIEN? Court-enforced claim on goods or property, even if the lien-owner does not have possession of the goods or property. An example is a vendor's lien, enforceable on all buyers given notice of the claimed lien. Refer to possessory lien.
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Real Estate Easements Law and Legal Definition An exclusive easement specifies parties who have benefit of that easement. Easements may be obtained for access to another property, called access and egress, use of spring water, entry to make repairs on a fence or slide area, drive cattle across and other uses.The easement is a real property interest, but separate from the legal title of the owner of the underlying land.eal Estate Easements Law & Legal Definition. An easement gives one party the right to go onto another party's property. That property may be owned by a private person, a business entity, or a group of owners.
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- Interest An interest describes any right, claim or privilege that an individual has towards real property. The law recognizes various types of interests in real property. A nonpossessory interest in land is the right of one person to use or to restrict the use of land that belongs to another person.
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Title Insurance Policy Exceptions Law and Legal Definition Title insurance policies are indemnity insurances against financial loss caused by defects in title to real property and from the invalidity or unenforceability of mortgage liens.Title insurance exceptions are found in every title policy.There are some standard exceptions in every policy and there are sometimes exceptions unique to a particular real estate deal. The exceptions mentioned in the policies will be excluded from coverage.Standard exceptions can include (but are not limited to):itle insurance exceptions are found in every title policy. There are some standard exceptions in every policy and there are sometimes exceptions unique to a particular real estate deal. The exceptions mentioned in the policies will be excluded from coverage. Standard exceptions can include (but are not limited to):
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Lien A lien (/ˈliːn/ or /ˈliːən/) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder.
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What is an 'Encumbrance' DEFINITION of 'Encumbrance'. An encumbrance is a claim against a property by a party that is not the owner. An encumbrance can impact the transferability of the property and restrict its free use until the encumbrance is lifted.The most common types of encumbrance apply to real estate; these include mortgages, easements and property tax liens.t is a form of encumbrance because the lessor does not give up title to the property, but his or her use of the property is significantly constrained by the lease agreement. Lien. A lien is a type of security interest, an encumbrance that affects the title to a property.
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- Read chapter 6 Using the Tolerable Upper Intake Level for Nutrient Assessment of Groups: Since 1994 the Institute of Medicine's Food and Nutrition Board h...
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Mechanic's lien A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.The lien exists for both real property and personal property.In the realm of real property, it is called by various names, including, generically, construction lien. mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.
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- A lien (/ˈliːn/ or /ˈliːən/)[Note 1] is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder.
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âWhat the Heck Is That Survey Deletion Coverage?â In your title commitment, and ultimately your title policy, there is a general exception to your coverage that reads “Any discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements.”. (1) Within days after the effective date of this contract, Seller shall furnish to Buyer and Title Company Seller’s existing survey of the Property and a Residential Real Property Affidavit promulgated by the Texas Department of Insurance (T-47 Affidavit).
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lien A right given to another by the owner of property to secure a debt, or one created by law in favor of certain creditors. A lien is an encumbrance on one person's property to secure a debt the property owner owes to another person. The statement that someone's property is tied up describes the effect of liens on both real and Personal Property.
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- Updated June 13, 2015. Definition: An encumbrance, as it pertains to real estate, means any legal thing that burdens or restricts usage or transfer of the property. A property free and clear from any and all encumbrances is rare.
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real estate real estate. Land and anything fixed, immovable, or permanently attached to it such as appurtenances, buildings, fences, fixtures, improvements, roads, shrubs and trees (but not growing crops), sewers, structures, utility systems, and walls.
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Understanding Real Estate Liens Types of Real Estate Liens. There are two main types of real estate liens: voluntary liens and involuntary liens. Voluntary liens are created by a contract between the creditor and the debtor. The most common type is a mortgage, which is essentially a bank loan that is secured by the property itself.
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- DEFINITION of 'Property Lien'. A property lien is a legal claim on a tract of real estate granting the holder a specified amount of money upon the sale of the property. Such liens are often used to ensure the payment of a debt, with the property acting as collateral against the amount owed. A mortgage is the best example of a property lien.
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Real estate contract Real estate contract. A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases cover such rentals since they typically do not result in recordable deeds. Freehold conveyances of real estate are covered by real estate contracts, including con
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involuntary lien A non-consensual claim to the property of another as collateral to ensure the repayment of a debt. An involuntary lien may be imposed by a court, often for non-payment of taxes. The involuntary lien gives the tax authority (or other body) the right to confiscate one's property if the debt is not settled. An involuntary lien contrasts with a voluntary lien, to which the debtor consents.
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Hey! Thatâs my land! Understanding Adverse Possession Adverse possession is an ancient legal doctrine. In the typical adverse-possession case, a property owner has inadvertently built a fence within neighboring property. The discrepancy is then discovered many years later, when one of the neighbors has a survey done for some reason.
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What Is a Property Lien? A lien is typically a public record. It is generally filed with a county records office (for real property) or with a state agency, such as the secretary of state (for cars, boats, office equipment, and the like). Liens on real estate are a common way for creditors to collect what they are owed.
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- Definition of encumbrance in real estate, as used by lenders, title and escrow companies; liens are encumbrances; but not all encumbrances are liens. Definition of encumbrance in real estate, as used by lenders, title and escrow companies; liens are encumbrances; but not all encumbrances are liens.