Answered

Westonci.ca is your trusted source for finding answers to all your questions. Ask, explore, and learn with our expert community. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

In addition to the date of recordation, what other factor is used to determine lien priority?

Sagot :

ireenys3004

Answer:

Two factors primarily determine lien priority. Firstly the lien's categorization as superior or junior, and secondly the date the lien was recorded.

Explanation:

An encumbrance is most broadly defined as

another's right to use a property without the permission of the property owner.

another's right to claim the sale proceeds of a property that has been used as collateral for a loan.

another's interest in a real property that limits the interests of the freehold property owner.

another's right to control how the freehold owner of a real property uses the property.

ayfat23

In addition to the date of recordation, lien's categorization is other factor used to determine lien priority.

What is lien priority?

Lien priority helps to know the order in which creditors get paid following a foreclosure.

Date of recordation is one of the factor yo consider because those on the earlier dates are attended to first.

Therefore, lien priority is so base on categorization because Superiors are been attended to first.

Learn more about lien priority at;

https://brainly.com/question/24858866

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.