Podcast
Questions and Answers
What are the two main categories of limitations on legal ownership interests that do not grant possession?
What are the two main categories of limitations on legal ownership interests that do not grant possession?
- Encumbrances impacting ownership and encumbrances impacting control
- Encumbrances impacting use and encumbrances impacting possession
- Encumbrances impacting use and encumbrances impacting ownership, value, and transferability (correct)
- Encumbrances impacting occupancy and encumbrances impacting value
What is the right to use portions of another's property called?
What is the right to use portions of another's property called?
- Inheritance right
- Ownership entitlement
- Easement (correct)
- Dominion privilege
What type of easement prohibits use?
What type of easement prohibits use?
- Negative easement (correct)
- Conditional easement
- Permissive easement
- Affirmative easement
When does a lien terminate its attachment to a property?
When does a lien terminate its attachment to a property?
In what state does a lien convey ownership if it is part of a mortgage?
In what state does a lien convey ownership if it is part of a mortgage?
What type of lien does not convey ownership unless part of a mortgage in a title theory state?
What type of lien does not convey ownership unless part of a mortgage in a title theory state?
How do multiple liens affect a property?
How do multiple liens affect a property?
What type of lien can a debtor create by agreeing to use their property as collateral?
What type of lien can a debtor create by agreeing to use their property as collateral?
What is the main difference between a voluntary lien and an involuntary lien?
What is the main difference between a voluntary lien and an involuntary lien?
What determines the priority of a security interest in case of default?
What determines the priority of a security interest in case of default?
Which type of lien gives the lender equitable title while the borrower holds legal title in a lien theory state?
Which type of lien gives the lender equitable title while the borrower holds legal title in a lien theory state?
What happens during a non-judicial foreclosure?
What happens during a non-judicial foreclosure?
What defines a particular lien?
What defines a particular lien?
In what order are liens against a property satisfied?
In what order are liens against a property satisfied?
Which lien type is paid before junior liens or after superior liens based on the date of recording?
Which lien type is paid before junior liens or after superior liens based on the date of recording?
What is the main purpose of a deed in lieu of foreclosure?
What is the main purpose of a deed in lieu of foreclosure?
What distinguishes a junior lien from a senior lien?
What distinguishes a junior lien from a senior lien?
What is the main difference between a superior lien and a junior lien?
What is the main difference between a superior lien and a junior lien?
In a lien theory state, what does the lender of the mortgaged property hold?
In a lien theory state, what does the lender of the mortgaged property hold?
What is the main purpose of a deed in lieu of foreclosure?
What is the main purpose of a deed in lieu of foreclosure?
In a non-judicial foreclosure, who is granted the 'power of sale'?
In a non-judicial foreclosure, who is granted the 'power of sale'?
When does a junior lien get paid back in full?
When does a junior lien get paid back in full?
What determines the ranking of lien types based on payment priority?
What determines the ranking of lien types based on payment priority?
Under a mortgage lien, what right does it give borrowers in terms of reclaiming their property?
Under a mortgage lien, what right does it give borrowers in terms of reclaiming their property?
Which type of foreclosure entails a court-ordered public sale to enforce the lien?
Which type of foreclosure entails a court-ordered public sale to enforce the lien?
'Strict Foreclosure' involves granting 'power of sale' without which feature?
'Strict Foreclosure' involves granting 'power of sale' without which feature?
What gives lenders direct title transfer without public sales in a foreclosure process?
What gives lenders direct title transfer without public sales in a foreclosure process?
What is the primary effect of a lien recorded on title?
What is the primary effect of a lien recorded on title?
What characteristic distinguishes a personal easement from a commercial easement?
What characteristic distinguishes a personal easement from a commercial easement?
In what scenario would a negative easement be granted?
In what scenario would a negative easement be granted?
Which statement best describes the termination of a personal lien?
Which statement best describes the termination of a personal lien?
What differentiates an easement in gross from an easement appurtenant?
What differentiates an easement in gross from an easement appurtenant?
What happens to an easement in gross upon the death of the holder?
What happens to an easement in gross upon the death of the holder?
How do voluntary and involuntary liens differ in their creation?
How do voluntary and involuntary liens differ in their creation?
What is the key characteristic of a voluntary lien regarding ownership conveyance?
What is the key characteristic of a voluntary lien regarding ownership conveyance?
'Party wall easements in shared structures typically aim to:'
'Party wall easements in shared structures typically aim to:'
What is the key characteristic of a voluntary lien regarding ownership conveyance?
What is the key characteristic of a voluntary lien regarding ownership conveyance?
How do multiple liens affect a property?
How do multiple liens affect a property?
What is the primary effect of a lien recorded on title?
What is the primary effect of a lien recorded on title?
Which type of lien gives the lender equitable title while the borrower holds legal title in a lien theory state?
Which type of lien gives the lender equitable title while the borrower holds legal title in a lien theory state?
'What gives lenders direct title transfer without public sales in a foreclosure process?'
'What gives lenders direct title transfer without public sales in a foreclosure process?'
'What is the main difference between a superior lien and a junior lien?'
'What is the main difference between a superior lien and a junior lien?'
'Under a mortgage lien, what right does it give borrowers in terms of reclaiming their property?'
'Under a mortgage lien, what right does it give borrowers in terms of reclaiming their property?'
'What determines the ranking of lien types based on payment priority?'
'What determines the ranking of lien types based on payment priority?'
'What characteristic distinguishes a personal easement from a commercial easement?'
'What characteristic distinguishes a personal easement from a commercial easement?'
'What is the right to use portions of another's property called?'
'What is the right to use portions of another's property called?'
What distinguishes a voluntary lien from an involuntary lien?
What distinguishes a voluntary lien from an involuntary lien?
What determines the priority of a senior lien over a junior lien?
What determines the priority of a senior lien over a junior lien?
What is the main difference between real estate tax liens and federal income tax liens?
What is the main difference between real estate tax liens and federal income tax liens?
What is the main characteristic of a deed in lieu of foreclosure?
What is the main characteristic of a deed in lieu of foreclosure?
When does a junior lien get paid back in full?
When does a junior lien get paid back in full?
What is the key difference between a strict foreclosure and a mortgage lien foreclosure?
What is the key difference between a strict foreclosure and a mortgage lien foreclosure?
'Power of sale' is a feature associated with which type of foreclosure?
'Power of sale' is a feature associated with which type of foreclosure?
In which type of state do lenders hold equitable title on mortgaged property?
In which type of state do lenders hold equitable title on mortgaged property?
What determines the ranking of lien types based on payment priority?
What determines the ranking of lien types based on payment priority?
