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It means that the parties are agreeing (stipulating) to who's liens are in first, second, third position.
Basically, who is first entitled to satisfy their interests in the property.
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∙ 10y ago
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Which type of lien has highest priority?
Liens for property taxes have highest priority in a foreclosure regardless of when the lien was filed.
Would a UCC lien on a property have priority over a mortgage that was recorded prior to the UCC?
The lien that was recorded first would have priority.The lien that was recorded first would have priority.The lien that was recorded first would have priority.The lien that was recorded first would have priority.
What is the bankers' lien?
The mortgage holder's lien which is considered a secured, priority claim.
Does a mechanical lien cancel other lien?
No. But some liens have priority over others. Usually the first lien to be filed has priority. But not always. Without knowing what the "other lien" is for, it's impossible to provide a more specific answer.
Can a lien be put on your home when you are on disability?
Yes. Your creditor can seek a judgment lien in court.
Which lien has first priority?
Liens are given priority in the order that they are filed. Liens for property taxes, however, will be given priority in the case of a foreclosure sale. But after any back taxes are paid, then the lien filed in first in chronological order will be given the highest priority.
Does an auto repair shop lien for unpaid repairs have priority over the bank who has secured interest and title?
No. The bank has a prior lien. The mechanic's lien takes second place.
Does a lien over a residential property have priority over a bank first mortgage?
No. Just imagine, if liens filed after the mtg had priority over the mtg, then the mtgee's cosin could file a lien on the mtged property and screw the mtgor.
Can the IRS put a lien on a house that already has a lien on it from an individual?
Yes, but in most cases whoever had their lien filed and perfected first will have priority (get paid first) over anyone else who files a lien. The IRS can file a lien, they'll just be second in line.
What happens to HOA lien in foreclosure?
Your answer depends on the priority of the lien among the debts owed against the title. Clean title cannot pass to a new owner until the lien is satisfied in some way. In some states HOA liens are given a special status, much like property tax liens, regardless of their recording order/priority. See related link.
What happens after a lien is filed on your home?
You will be notified of the lien/debt. In order to clear the home title (i.e.- for sale, or refinance, etc) the lien/debt will have to be satisfied. Depending upon the size of the lien and the circumstances, the lien holder may be able to force a sale of the property in order to collect the debt. It also depends on the lien holder's position. Priority is given to a tax lien, then the 1st mortgage, 2nd, etc.
How do you determine the priority of one mortgage and charge over the other?
Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.Liens on real property are prioritized according to the time of their recording in the land records. In some cases a senior lien holder will agree to subordinate their lien to a new lien, by a recorded instrument, allowing the new lienor to take priority.
