Escrow & Title
A Connecticut property with a mechanic's lien from an unpaid contractor must have the lien resolved before:
AThe property is listed for sale
BClear marketable title can be conveyed to a buyer✓ Correct
CThe property is advertised on MLS
DThe property can be appraised
Explanation
Mechanic's liens are encumbrances on title. A buyer and title company will require that any outstanding mechanic's liens be paid off or bonded over before a marketable title can be conveyed.
People Also Study
Related Connecticut Questions
- A Connecticut title insurance company discovers a mechanic's lien filed after the date of the owner's policy. The policy will:Escrow & Title
- A Connecticut property is subject to a mechanic's lien filed by a contractor who was not paid for renovation work. At closing, this lien must generally be:Escrow & Title
- A Connecticut property is sold at foreclosure. The proceeds are $280,000. The amounts owed are: first mortgage $200,000; mechanic's lien $25,000; second mortgage $80,000; property tax lien $8,000. In what order are the liens paid?Escrow & Title
- A Connecticut property buyer receives a title with a 'clouds' from a prior unresolved mechanic's lien. What is the most common remedy?Escrow & Title
- A Connecticut listing agent discovers that the seller has an outstanding judgment lien on the property. The agent must:Agency
- Connecticut's Marketable Record Title Act (MRTA) limits title search requirements to:Property Ownership
- Under Connecticut law, a property sold to a limited liability company (LLC) has title held in the name of:Property Ownership
- A Connecticut real estate salesperson wants to receive a referral fee from a title company for referring clients. Under Connecticut law, this is:Connecticut License Law
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.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
State-Specific Concepts
Mechanic's Lien
Study This Topic
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →