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
(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. ...
Heated structure needed to raise fowl. ...
There’s a time when it’s neither a Buyer’s Market nor a Seller’s Market. We call it “Renter’s Market”. It’s that time where, despite ...
Increase in the amount of money available for businesses and people to by real estate because of lower interest rates. Easy money stimulates spending on investment such as houses. See also ...
Same as term plat: Map that shows the location and boundaries of individual properties. ...
The definition of voluntary alienation in real estate is the transfer of the residency rights or deed of a property between two parties without the use of extraneous legal measures. Unlike ...
Type of ownership by husband and wife, recognized in 27 states, in which the rights of the deceased spouse pass to the survivor. It is the same as joint tenancy, except that one spouse ...
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 ...
Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assume Sharon took out a $1,000,000, on year, 10% discounted loan to buy real estate. The ...
Have a question or comment?
We're here to help.