What is a possessory lien typically used for?
Priority of Parties Holding Statutory or Common Law Liens

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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To secure payment for work done on a property
To transfer property rights
To establish ownership of a property
To avoid paying taxes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a common reason for the creation of a non-possessory lien?
A personal loan
A court judgment
A rental contract
A mortgage agreement
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do tax liens generally compare in priority to other non-possessory liens?
They have lower priority
They are not considered liens
They have the same priority
They have higher priority
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of lien usually has priority over a perfected security interest?
Non-possessory lien
Possessory lien
Unperfected security interest
Tax lien
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What governs the priority of liens and security interests?
Local customs
International treaties
Common law
Statutory law
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