Legal Aspects Question #11

An attachment is a lien for A. Three years from the date of levy B. Four years from the date of levy C. Ten years from the date of levy D. Ten years from recordation

A. Three years from the date of levy

A preliminary notice was filed by a contractor 40 days after work started. The period covered by a subsequent lien would start A. With the notice B. 20 days prior to notice C. 20 days after notice D. At no time above

B. 20 days prior to notice

Which is an example of a prejudgment lien? A. Mechanic's lien B. Attachment C. Homestead declaration D. Lis pendens

B. Attachment

Henry was injured while swimming in the pool of his neighbor Tom. Henry obtained a $100,000 judgment against Tom. As applied to Tom's house, this would be a(n) A. Unenforceable lien B. General lien C. Specific lien D. Priority lien

B. General lien (It would be a Judgment lien)

A stop notice A. Requires that a contractor stop work B. Is a lien on construction funds held by a lender C. Is equivelant to a lis penden notice D. Is none of the above

B. Is a lien on construction funds held by a lender

Which is NOT a specific lien A. Property tax lien B. Judgment lien C. Special assessment lien D. Mechanic's lien

B. Judgement (A general lien against all of debtors property in the county where recorded)

Involuntary liens include all EXCEPT A. Judgment liens B. Tax liens C. Special assessment lien D mechanic's lien

B. Judgment lien

A notice of a pending lawsuit involving rights in a property is known as a(n) A. Attachment B. Lis pendedns C. Execution D. Judgement

B. Lis pendens

An unpaid contractor would file which type of lien? A. General B. Specific C. Voluntary D. Attachment

B. Specific lien (Mechanic's lien)

Which is TRUE of priority of liens? A. Tax liens take priority over prior liens for special assessments B. Tax liens take priority over prior trust deeds C. Judgments liens take priority over prior mechanics' liens D. None of the above is true

B. Tax liens take priority over prior trust deeds

If there is no notice of completion, subcontractors have how many days to file their liens after completion A. 30 B. 60 C. 90 D. 180

C. 90 (As do prime contractors)

A judgment lien is effective A. Only in the county where rendered B. Only in the county where the debtor resides C. In every county where it is recorded D. For 25 years from recordation

C. An abstract of judgment

To create a lien after judgment, the creditor would file A. A writ of attachment B. An execution of judgment C. An abstract of judgment D. None of the above

C. An abstract of judgment

A notice of nonresposnibility would NOT be filed by a A. Vendor under a real property sales contract B. Lessor C. Beneficiary of a prior recorded trust deed D. Any of the above

C. Beneficiary of a prior recorded trust deed (Because prior trust deed has priority)

Unpaid real estate taxes have a lien priority superior to A. Prior judgment liens B. Prior trust deeds C. Both A and B D. Nether A nor B

C. Both A and B

A purchaser of a condominium unit filed a declaration of homestead. The purchaser refused to pay his assessment fees, and the owners' association filed a lien. The lien would be A. Void because homestead property is protected against liens B. Enforceable only if the owner's equity exceeds his homestead exemption C. Collectible as if there were no homestead D. Valid but collectible only when the homestead is sold

C. Collectible as if there were no homestead

A declaration of homestead would NOT be valid if filed by A. A spouse without the other spouse's permission on community property B. A tenant on a 35-year lease C. An owner of a 60 unit apartment complex D. A husband and wife at the start of construction of their future residence

D. A husband and wife at the start of construction of their future residence (Must reside on premises to file)

A search of the county records would always show a valid recorded A. Judgment lien B. Mechanics' lien C. Homestead D. All of the above

D. All of the above (All must be recorded to be void)

Which is TRUE about a judgment that has been enforced by an execution sale? A. The buyer receives a certificate of sale B. The former owner has a 12-month period of redemption C. The sale need not be held at the property being sold D. All of the above are true

D. All of the above are true

A recorded abstract of judgment has priority over a homestead declaration when A. It was recorded prior to the homestead B. Enforceable only if the owner's equity exceeds against liens enforceable only if the owner's equity exceeds his homestead exemption C. Collectible as if there were no homestead D. Valid but collectible only when the homestead is sold

D. Any of the above occurs

Which sequence shows the proper legal order for these events? A. Execution, attachment, judgment B. Judgment, execution, attachment C. Attachment, execution, judgment D. Attachment, judgment, execution

D. Attachment, judgment, execution

To give up a valid homestead, the owner would A. Change residency B. Rent the premises C. Change marital status D. Do none of the above

D. Do none of the above

An unlicensed person who has mechanic's lien rights would be a(n) A. General contractor B. Subcontractor C. Independent contractor D. Employee of the contractor

D. Employee of the contractor

By filing a valid homestead declaration, the homeowner receives protection against A. Subsequent mechanics' liens B. Prior judgments C. Tax liens D. Subsequent unsecured claims by creditors

D. Subsequent claims by creditors

A contractor started a foundation for a new building, but the owner was not satasfied with his work and paid him off. Three weeks later, the owner got a construction loan secured by a trust deed, which was recorded. The owner proceeded to hire another contractor to build his home, and when the building was finally completed, a painting subcontractor filed a mechanics' lien against the property. What is the result in this case A. The trust deed takes priority over the mechanics lien B. The mechanics' lien will take priority because a mechanics' lien always takes priority over a trust deed C. The subcontractor will not be able to file against the property but will be able to file a lien against the contractor's property D. The mechanics' lien will take priority over the trust deed because some work was done before the trust deed was recorded

D. The mechanics' lien will take priority over the trust deed because some work was done before the trust deed was recorded