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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Title that can be made null and void or defeated upon the satisfaction of a claim or the completion of some future contingency. ...
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Act of receiving the rights and privileges of a citizen including property rights. ...
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