Lien, Junior
Subordinate lien to a previous lien. Generally attached after a previous, and therefore senior, lien has been attached to property. In the event of a foreclosure action where there are insufficient proceeds to cover all the claims against the property, a junior lien can be satisfied only after all senior liens are satisfied.
Popular Real Estate Terms
Information that is factual, such as representations made by a real estate broker to a prospective buyer. ...
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Person or business that provides an option to someone else. ...
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Organizational governing group. Either an appointed or elected body overseeing the management of an organization and rendering advice on current issues. Members are legally responsible for ...
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Literature, samples, equipment, tools, and other useful information that real estate brokers or agents can use for demonstration purposes to prospective buyers. ...
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As you’d expect, the rod has various meanings in everyday discourse. However, lesser-known is that surveyors use a rod as a land survey measurement for real estate. In a nutshell, a ...
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