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26 January, 17:12

Which of these liens has the highest priority?

a. First mortgage lien

b. Mechanics' lien

c. Property tax liens

d. The one that was created first

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Answers (1)
  1. 26 January, 17:35
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    A. First mortgage lien

    Explanation:

    A claim on a residential property due to unpaid bills is called lien. If lien is placed in homes title then the owner cannot sell, or transfer a clear title of the ownership to home or refinance it. It is meant to ensure that creditors receive their payment. Liens are different from unpaid charges for improvement and maintenance. The first lien is of the higher priority than other liens.
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