mortgage lien

When a property is being sold, all mortgage liens must be satisfied before title can be conveyed "free and clear."

"I went to all of them and I asked about the mortgage liens against the building," said Miss Terry.

Accordingly, Mr. Bergman said, a "purchase money first mortgage" represents the senior mortgage lien.

And because PACE loans acquire priority lien, they take precedent over mortgage liens.

A reverse mortgage lien is often recorded at a higher dollar amount than the amount of money actually disbursed at the loan closing.

Liens that have attached to the title before the mortgage lien are said to be senior to, or prior to, the mortgage lien.

In other cases, state appellate courts have held that MERS is permitted to foreclose mortgage liens when it is the holder of the note and mortgage.

The term is commonly used by banks and building societies to represent the ratio of the first mortgage lien as a percentage of the total appraised value of real property.

The money is to be used to erect a monument to Johnson on the site and to restore the cemetery, pay off legal fees and help the church pay off a mortgage lien.

The greatest danger for title insurers is that a competing lien may be filed during the 12 to 13 weeks it now takes for a mortgage lien to be legally recorded.

In lien theory states, a mortgage or a deed of trust will create a mortgage lien upon the title to the real property being mortgaged, while the mortgagor still holds both legal and equitable title.

Subject to the requirements of the recording laws of the state in which the land is located, this attachment establishes the priority of the mortgage lien with respect to most other liens on the property's title.

The Peck Slip block is one of the few sites still deemed eligible by the city to receive the development rights, which were created in 1973 to compensate the banks for releasing mortgage liens on properties in the area.

A "purchase money second mortgage" represents a lien subordinate to the first mortgage lien, while a "purchase money third mortgage" represents a lien subordinate to both the first and second mortgages.

He added that a mortgage lien would take priority over the condominium's lien, so if the foreclosure sale does not produce enough money to pay off both liens, the condominium will get only what money is left, if any.

Title Insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens.

The Prudential Insurance Company of America agreed this week to pay about $11 million to United States Lines to settle legal claims stemming from a clerical error in which a mortgage lien Prudential held on eight ships, worth $92,885,000, was recorded as worth $92,885.

In a letter to Allen I. Questrom, chairman of Federated Department Stores and of Allied Stores, the secured creditors' committee said they wanted full satisfaction of their claims, more cash, real property mortgage liens, an increase in the amount of notes being offered and fewer "junk bonds."

In our opinion, therefore, Morgan acquired a good title to the premises in controversy by his purchase at the sale made to satisfy his mortgage lien, and his deed to the defendants having vested them with his title, the judgment of the Supreme Court of Louisiana in their favor was right.

If there are multiple mortgage liens on the title to a property and the loan secured by a first mortgage is paid off, the second mortgage lien will move up in priority and become the new first mortgage lien on the title.