Property Ownership
In Georgia, which lien has the highest priority over all other liens?
AA recorded first mortgage
BProperty tax liens✓ Correct
CA judgment lien
DAn HOA assessment lien
Explanation
Property tax liens in Georgia have super-priority and are superior to all other liens, including first mortgages. This means if a property is sold for taxes, the mortgage lender can lose their lien.
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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.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
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