Statutory Liens
Definition of "Statutory liens"
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.
Popular Real Estate Terms
Part of something such as the units making up a heating or air conditioning system in a building. ...
Six-mile-wide column of land running north-south in rectangular survey system ...
Economic or physical life of a fixed asset. The property is depreciated over the period benefited. ...
Title that can be made null and void or defeated upon the satisfaction of a claim or the completion of some future contingency. ...
Designation given to members of the American Society of Real Estate Counselors (ASREC). A prerequisite for membership is professional experience and ethical conduct. ...
Real estate held for productive use or investment. Land is recorded at the acquisition price plus incidental costs including real estate commissions attorney's fees, escrow fees, title, ...
Work required as a court judgment because of a crime committed. ...
Something that is inferred, but not explicitly stated. The inference may be deducted from the relevant information. ...
An organized group of ethical behavior guidelines governing the day-to-day activities of a profession or organization. ...
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