Ask Question
BusinessBusiness
31 March, 17:55

Which of the following statements about liens is FALSE? 1. There may be multiple liens against a property. 2. Liens never convey ownership. 3. An owner acquires existing liens along with the property. 4. Recording payment of a lien terminates the lien.

+5
Answers (1)
  1. 31 March, 21:02
    0
    2) Liens never convey ownership.

    Explanation:

    Generally, liens do not convey ownership except for mortgage liens. A mortgage lien is a type of voluntary lien that conveys legal title to the lender. This is done to allow banks (and other lending institutions) to have an easier way to execute a mortgage lien, therefore, if you default on a mortgage, the bank sell the property fairly easily. All other types of liens do not convey legal title, and they require a legal process before acting.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following statements about liens is FALSE? 1. There may be multiple liens against a property. 2. Liens never convey ownership. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
You can spend $100 on either a new economics textbook or a new tablet computer. If you choose to buy the new economics textbook, the opportunity cost is: Select one: a. your enjoyment of the new tablet computer. b.
Answers (1)
A county has $3,650,000 of outstanding encumbrances related to unassigned resources at year-end, December 31, 2019. It expects to accept delivery on all orders in 2020.
Answers (1)
n a year, Finland can produce 8,000 tons of herring or 6000 reindeer or some combination of the two. Norway can produce 7000 tons of herring or 7000 reindeer in a year or some combination of the two.
Answers (1)
The following selected data are from a recent statement of cash flows: Net cash flow from operating activities $ 35,000 Net cash flow used for investing activities (20,000) Net cash flow used for financing activities 60,000 Ending cash balance
Answers (1)
The most popular view of who or what is responsible for our actions is known as: 0 theological determinism. o behavioral determinism. 0 indeterminism. 0 free will.
Answers (1)
New Questions in Business
The Jone Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Lastâ week, Jone's purchased and used 96,000 pounds of potatoes at a price of $ 0.70 per pound.
Answers (1)
Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one cup of coffee, one donut, and one newspaper. In year one, the basket costs $9.00. In year two, the price of the same basket is $8.00.
Answers (1)
On January 1, 2019, Frederick Corporation had 200,000 shares of common stock outstanding with a par value of $5 per share. On March 31, Frederick Corporation authorized a 10% stock dividend when the market value was $18 per share. Required: 1.
Answers (1)
the owner's initial investment consists of $37,480 cash and $45,910 in land in exchange for its common stock. The company's $17,350 equipment purchase is paid in cash.
Answers (1)
The Blossom Company purchased $10030 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1770 on hand.
Answers (1)
Home » Business » Which of the following statements about liens is FALSE? 1. There may be multiple liens against a property. 2. Liens never convey ownership. 3. An owner acquires existing liens along with the property. 4.
Sign Up Forgot Password?