Exam (elaborations)
Encumbrances (1).
- Course
- NC Commercial Contractor
- Institution
- NC Commercial Contractor
Exam of 2 pages for the course NC Commercial Contractor at NC Commercial Contractor (Encumbrances (1).)
[Show more]
Seller
Follow
Content preview
EncumbrancesAd Valorem Liens - ANS-What lien has priority?
Warranty Deed - ANS-What is NOT an encumbrance?
The contractor can only lien the leasehold interest - ANS-A contractor does work for a
tenant in a commercial leased space. The tenant fails to pay the contractor. What is true
regarding the mechanic's lien?
Lessee - ANS-A non-disturbance clause would most likely benefit the:
Specific - ANS-An attachment is what type of lien?
The mechanic's lien is valid against the property - ANS-An owner hires a general
contractor to add a room and sells the property before paying for the work. The buyer
receives a warranty deed and a standard title owner's policy from the seller. When the
contractor files a lien, what is true?
Lien is not valid, as it was not recorded in the required time. - ANS-An owner of a
commercial building hires and pays a contractor, however the contractor fails to pay
subcontractor and files bankruptcy. Subcontractor files a mechanic's lien within 125
days from work completion. What is true?
Specific lien - ANS-What type of lien is a mechanic's lien?
Judgements - ANS-What would be considered a general lien?
Preparing the estoppel certificate - ANS-When a loan is created using real estate as
security, what would be the primary lender least consider?
Blanket - ANS-When a loan is written that contains a lot release clause, the loan is
called:
An encroachment - ANS-After a buyer purchases a property, he has a survey made and
finds that his neighbor recently built a fence on the buyer's land. This is an example of:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$11.55. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
58993 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now