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
Libre, Inc. has experienced bad debt losses of 5% of credit sales in prior periods At the end of the year, the balance of Accounts Receivable is $121,000 and the Allowance for Doubtful Accounts has an unadjusted credit balance of $1,550 Net credit
Answers (1)
A store manager must decide how many rug cleaners to rent to customers. The manager estimates that the first would yield $200 a year, the second $150, the third $75, and the fourth $50.
Answers (1)
Higado Confectionery Corporation has a number of store locations throughout North America. In income statements segmented by store, which of the following would be considered a common fixed cost with respect to the stores? a.
Answers (1)
What type of inspection is a bank most likely to request?
Answers (1)
Alicia is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC has net income of $325,000 after deducting Alicia's $100,000 salary.
Answers (1)
New Questions in Business
The RST Company makes 38,000 parts to be used in its main products. The cost per part at this activity level is: Direct materials $ 6.50 Direct labor $ 6.60 Variable manufacturing overhead $ 3.75 Fixed manufacturing overhead $ 3.
Answers (1)
Which of the following would not be included in calculating the incremental cash flow for a project? The firm expects sales of the new product to be $5,000,000 per year.
Answers (1)
Compute the present value of a perpetuity that pays $ 13,385 annually given a required rate of return of 9 percent per annum. (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign).
Answers (1)
Ashley opened an all-you-can-eat buffet restaurant. the price per-person was based on what ashley believed an average restaurant patron would consume. the restaurant began to lose money.
Answers (1)
Temporary disability: Is the state that exists when it is probable that an injured worker, who is currently unable to work, will be able to resume gainful employment with no or only partial disability?
Answers (2)
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?