Legal aspects of real estate chapter 10
UPDATED Exam Questions and
CORRECT Answers
A lien is put on a property by - CORRECT ANSWER - creditors
What type of superior lien does local government entities place against certain properties to
ensure payment for local improvement projects such as new roads, schools, sewers or libraries? -
CORRECT ANSWER - Special assessment lien
Which of the following is NOT a superior lien? - CORRECT ANSWER - federal income
tax
What is the term used to describe an interest in and a right to real property that limits the legal
owner's freehold interest? - CORRECT ANSWER - an encumbrance
A creditor who places a lien on a property is called - CORRECT ANSWER - lienor
Once a lien is placed on a property, the most common way to remove it is for the property owner
to - CORRECT ANSWER - to pay a debt
What is a nonfinancial encumbrance that restricts the use of a property itself and enables others
to use the property, regardless of the owner's desires? - CORRECT ANSWER - An
easement
What type of lien is also known as a construction lien? - CORRECT ANSWER -
Mechanic's lien
What type of laws protect family members against losing their homes to general creditors
attempting to collect on debts? - CORRECT ANSWER - homestead laws
UPDATED Exam Questions and
CORRECT Answers
A lien is put on a property by - CORRECT ANSWER - creditors
What type of superior lien does local government entities place against certain properties to
ensure payment for local improvement projects such as new roads, schools, sewers or libraries? -
CORRECT ANSWER - Special assessment lien
Which of the following is NOT a superior lien? - CORRECT ANSWER - federal income
tax
What is the term used to describe an interest in and a right to real property that limits the legal
owner's freehold interest? - CORRECT ANSWER - an encumbrance
A creditor who places a lien on a property is called - CORRECT ANSWER - lienor
Once a lien is placed on a property, the most common way to remove it is for the property owner
to - CORRECT ANSWER - to pay a debt
What is a nonfinancial encumbrance that restricts the use of a property itself and enables others
to use the property, regardless of the owner's desires? - CORRECT ANSWER - An
easement
What type of lien is also known as a construction lien? - CORRECT ANSWER -
Mechanic's lien
What type of laws protect family members against losing their homes to general creditors
attempting to collect on debts? - CORRECT ANSWER - homestead laws
