Finance
The Oklahoma First Lien Position for a construction-to-permanent loan means:
AThe construction contractor has priority lien rights
BThe lender's mortgage has priority over all other liens, including mechanic's liens if recorded before construction begins✓ Correct
CThe borrower's equity has first priority
DThe lender automatically gets first position in all states
Explanation
A construction lender typically records their deed of trust before construction begins to establish first lien priority over mechanic's liens that will arise during construction. The timing of recording is crucial to lien priority in Oklahoma.
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