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
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Notion that a buyer should not pay more for a property than it would cost to buy at current prices for land, labor, and appraisals. ...
Worth of the property part which is left subsequent to a condemnation action. ...
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Term indicating a resemblance or analogous to a legal classification. For example, a quasi corporation, quasi contract, quasi possession, quasi offense. ...
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