Escrow & Title
The priority of liens in Kansas is generally determined by:
AThe size of the lien
BThe date of recording (first in time, first in right)✓ Correct
CThe type of lien holder
DThe court's discretion
Explanation
Kansas follows the 'first in time, first in right' rule — liens are generally prioritized by the date and time they are recorded in the public records.
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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.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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