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Chapter 10: Real Estate Taxes and Other Liens
Ad Valorem Tax
Tax levied according to value, used to refer to real estate taxes
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
Recorded legal document giving constructive notice that the property is the subject of an action filed in a state or federal court
Statutory lien in the property where contractors or materialmen 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
Lien on the property of a mortgagor (owner) that provides security for a loan
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
Document acknowledging that the debts have been repaid
Tax or levy against only the properties that will benefit from a proposed public improvement like a sewer or paving a street
Lien affecting or attaching only to a certain, specific parcel of land
Written agreement between lien holders that changes the priority of mortgage, judgment and other liens under certain circumstances