Property Ownership
A lien on an Oklahoma property is best described as:
AA transfer of title to secure a debt
BA claim or charge on property as security for a debt or obligation✓ Correct
CA type of easement for utilities
DAn encroachment on adjacent property
Explanation
A lien is a claim, charge, or encumbrance on property that serves as security for the payment of a debt or performance of an obligation. It does not transfer title but gives the lienholder the right to force a sale if the obligation is not met.
Related Oklahoma Property Ownership Questions
- A monument in a metes and bounds legal description refers to:
- An encroachment occurs when:
- Two unmarried individuals own a property together with equal shares and the right of survivorship. This form of ownership is called:
- Oklahoma's Five Civilized Tribes hold certain lands as:
- A restrictive covenant placed by a developer on a subdivision lot is a type of:
- A condominium owner owns:
- In Oklahoma, tribal land held in trust for Native American tribes:
- A prescriptive easement in Oklahoma is established by:
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