Escrow & Title
What is a 'mechanic's lien' in Oregon and when does it arise?
AA lien placed by a title company for unpaid closing costs
BA lien filed by contractors, laborers, or materialmen who have not been paid for work or materials on a property✓ Correct
CA government lien for unpaid property taxes
DA lien arising from a homeowner's unpaid HOA dues
Explanation
A mechanic's lien (or construction lien) in Oregon is a legal claim against a property by contractors, subcontractors, or suppliers who provided labor or materials and were not paid. Oregon has strict notice and filing requirements. Mechanics' liens can cloud title and must be resolved before a property can be sold or refinanced.
Related Oregon Escrow & Title Questions
- In Oregon, what is 'joint and several liability' as it relates to co-buyers on a mortgage?
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- A buyer discovers after closing that the seller had an undisclosed lien on the property. The buyer is protected against financial loss from this lien by:
- In Oregon, what is a 'homestead exemption' and how does it protect homeowners?
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- In Oregon, 'constructive notice' provided by recording a deed means:
- Oregon uses escrow/closing agents (often title companies or escrow companies) to handle real estate closings. These agents have fiduciary duties to:
- Which of the following would be found on a Closing Disclosure but NOT in a listing agreement?
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