Definition of "Statutory liens"

Josephine Carpenter real estate agent

Written by

Josephine Carpenterelite badge icon

RE/MAX Elite

Charges resulting in involuntary encumbrances against real property derived from legislated law rather than from debts owed to organizations o r individuals. For example, of a homeowner does not pay his real estate taxes, the tax assessor may statutorily place a lien on his or her property for the back taxes owed.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the ...

Underwriting is a term often used with financial connotation. It is a process that helps individuals or institutions to determine if it’s worth taking a financial risk in a particular ...

Structure not directly belonging to a property but considered a part of it through the use of an easement of common consent. ...

Ownership of property by one individual. ...

Real estate bought and leased to tenants to obtain rental income. ...

(1) Wide boards, generally two inches thick, attached to flooring or roof of a structure. (2) Light gauged ribbed metal sheets used for supporting a roof or floor. ...

An individual providing evidence in a trial under penalties of perjury. The witness's testimony id under oath. Observing the occurrence of an event or the transacting of a transaction ...

Rental income received from property that exceeds the costs of owning and maintaining the property. ...

“What is Situs?”, you ask.Situs is a word in Latin that basically means the site or location where something exists or originates. Like most words in latin, situs is usually ...

Popular Real Estate Questions