Property Ownership
A lien is best described as:
AThe right to use another's property for a specific purpose
BA monetary claim against a property that can be enforced by sale✓ Correct
CA restriction on land use placed by a prior owner
DAn agreement between neighbors regarding property boundaries
Explanation
A lien is a monetary claim or encumbrance against a property that gives the lienholder the right to force a sale to satisfy the debt if it is not paid.
Related North Carolina Property Ownership Questions
- Which form of co-ownership includes the right of survivorship and is available only to legally married spouses in North Carolina?
- In NC, a 'fee simple determinable' estate automatically terminates and reverts to the grantor when:
- A 'covenant running with the land' in a NC deed restricts future owners because:
- Under NC eminent domain law, the government must pay 'just compensation' to a property owner which is defined as:
- Under NC's transfer on death (TOD) deed statute (effective 2012), a property owner may:
- In NC, a 'fixture' is personal property that has become:
- A life estate in NC grants the life tenant the right to:
- A NC 'homestead exemption' for property taxes provides:
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