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Ad Valor em Tax

Tax levied according to value, used to refer to real estate taxes


The imposition of a tax, charge, or levy, usually according to established rates.


The act of taking a person's property into legal custody by writ or other judicial order to hold it available for application to that person's debt to a creditor


Any interest in or claim on, the land of another, which in some manner burdens or diminishes the value of the property.

Equalization Factor

A factor (number) by which the assessed value of a property is multiplied to arrive at a value for the property that is in line with statewide tax assessments. The ad valor em tax would be based on this adjusted value

Equitable Lien

Created when justice and fairness would require a court of equity to declare such a lien exists or when conduct of parties would imply that a lien was intended.

Estate Taxes

taxes levied on a person's estate or total holdings after that person's death

General Liens

the right of a creditor to have all of a debtor's property both real and personal sold to satisfy a debt

General Real Estate Taxes

A tax that is made up of the taxes levied on the real estate by government agencies and municipalities

Inheritance Taxes

A tax imposed by some states in which the beneficiary of a decedent's property is taxed on the transfer of the property

Involuntary Lien

lien imposed against property without consent of an owner which typically are property taxes, special assessments and federal income taxes. Created by law and can be statutory or equitable.

Judgment Lien

After judgment entered and recorded with county recorder, becomes a general lien on defendant's real and personal property


Right given by law to certain creditors to have their debts paid out of the property of a defaulting debtor, usually by court sale

Lis pendens

Recorded legal document giving constructive notice that the property is the subject of an action filed in a state or federal court

Local Improvement District (LID)

An assessment on a local improvement district for a public improvement project the district has approved.

Mechanic's Lien

Statutory lien in the property where contractors or material men have labor or materials in a given property


One-tenth of one cent used in some states to compute real estate taxes; i.e., 52 mills = $0.052 tax for each dollar of assessed valuation of a property

Mortgage Lien

Lien on the property of a mortgagor (owner) that provides security for a loan

Redemption Period

Time frame in which property owners in some states have the right to redeem their real estate by paying the sales price, interest and costs

Satisfaction Piece

Document acknowledging that the debts have been repaid

Special Assessment

Tax or levy against only the properties that will benefit from a proposed public improvement like a sewer or paving a street

Specific Lien

Lien affecting or attaching only to a certain, specific parcel of land

Statutory Lien

A lien imposed on property by statute - a tax lien, for example - in contrast to an equitable lien, which arises out of common law.


Written agreement between lien holders that changes the priority of mortgage, judgment and other liens under certain circumstances

Tax Liens

A charge against property created by operation of law. Tax liens and assessments take priority over all other liens.

Tax Sale

A court ordered sale of real property to raise money to cover delinquent taxes.

Vendor's Lien

The lien that belongs to a vendor for the unpaid purchase of land, where the vendor has not taken any other lien or security beyond the personal obligation of the purchaser.

Voluntary Lien

a lien created intentionally by the property owners action, such as when someone takes out a mortgage loan

Easements and encroachments are types of


An affirmative easement gives the benefited party

the right to a defined use of a portion of another's
real property.

There are two adjoining properties. An easement allows property A to use the access road that belongs to property B. In this situation, property A is said to be which of the following in relation to property B?

Dominant tenement

Which of the following describes a situation in which an easement might be created against the wishes of the property owner?

The property has been continuously used as an easement with the knowledge but without the permission of the owner for a period of time.

What is the primary danger of allowing an encroachment?

Over time, the encroachment may become an easement by prescription that damages the property's market value.

A property owner who is selling her land wants to control how it is used in the future. She might accomplish her aim by means of

a deed restriction.

What distinguishes a lien from other types of encumbrance?

It involves a monetary claim against the value of a property.

A certain property has the following liens recorded against it: a mortgage lien dating from three years ago; a mechanic's lien dating from two years ago; a
real estate tax lien for the current year; and a second
mortgage lien dating from the current year. In case
of a foreclosure, which of these liens will be paid first?

Real estate tax lien

The lien priority of junior liens can be changed by a
lienor's agreement to


Among junior liens, the order of priority is generally
established according to

the date of recordation

What is meant by a "lien-theory" state?

A state in which a mortgagor retains title to the property when a mortgage lien is created

A homeowner has hired a contractor to build a room
addition. The work has been completed and the
contractor has been paid for all work and materials
but fails to pay the lumber yard for a load of lumber.
What potential problem may the home owner

The lumber yard may place a mechanic's lien for the amount of the lumber against the homeowner's real property.

The process of enforcing a lien by forcing sale of the
lienee's property is called


An important difference between a judicial
foreclosure and a non-judicial foreclosure is

there is no right to redeem the property in a nonjudicial foreclosure.

A defaulting borrower may avoid foreclosure by
giving the mortgagee

a deed in lieu of foreclosure.

A property survey reveals that a new driveway
extends one foot onto a neighbor's property. This is
an example of

an encroachment

A property owner has an easement appurtenant on
her property. When the property is sold to another
party, the easement

transfers with the property.

A brick fence straddles the property line of two
neighbors. The neighbors agree not to damage it in
any way. This is an example of

a party wall

A property owner allows Patty Lane to cross her
property as a shortcut to her kindergarten school bus. One day the property owner dies. What right was Patty given, and what happens to it in the future?

A license, which terminates at the owner's death

A court renders a judgment which authorizes a lien to be placed against the defendant's house, car, and
personal belongings. This is an example of a

general judgment lien.

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