Property Ownership
A 'possessory lien' in Arizona differs from other liens in that:
AIt is recorded in the county recorder's office
BThe lienholder must maintain physical possession of the personal property to hold the lien✓ Correct
CIt can only be placed on real property
DIt requires a court order to create
Explanation
A possessory lien (like an artisan's lien or mechanic's lien on personal property) requires the lienholder to maintain physical possession of the property as security for payment. Releasing possession generally extinguishes the lien.
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- In Arizona, a homeowner's association (HOA) lien for unpaid assessments is generally:Property Ownership
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- Adverse possession in Arizona requires continuous, open, and hostile use for a period of:Property Ownership
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- An FHA loan in Arizona requires a minimum down payment of:Finance
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
State-Specific Concepts
Mechanic's Lien
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