A property owner has defaulted on his mortgage and the lender has filed a foreclosure action to have the property sold to satisfy the lien. If the property has several liens, which of the following would have first priority?
A. A three year old mortgage lien for $96,000.
B. A one year old judgement lien for $8,000.
C. A mechanic's lien of $1,200 for work stared six months ago.
D. A special assessment tax lien for $500 levied one year ago.
Answer: D. A special assessment tax lien for $500 levied one year ago.
Business
You might also like to view...
The payment equity for a service is a range from the minimum level of service consumers are willing to accept to the level they believe can and should be delivered
Indicate whether the statement is true or false
Business
Agricultural assemblers, petroleum bulk plants and terminals, and auction companies are examples of ________
A) full-service wholesalers B) specialized wholesalers C) limited-service wholesalers D) merchant wholesalers E) brokers
Business