Chapter 21

Liens and foreclosure

Who is paid first when a property is sold to pay its debts

Voluntary and involuntary, specific and general liens; priority by recording, tax liens first, mechanic's liens and subordination; what a foreclosure sale pays and wipes out; deficiency judgments; equitable and statutory redemption, deeds in lieu and short sales. With a 3D lien auction to play.

1. 21.1
   Kinds of liensWho made it, and how much it reaches
2. 21.2
   Who is first in lineTaxes first, then first in time
3. 21.3
   Foreclosure: the sale and the payoutDown the line until the money runs out
4. 21.4
   Redemption and other ways outBefore the sale in every state; after it in some
5. 21.5
   Play it out: the lien auctionBuild the line, then run the sale

1 interactive 3D scene · 0 slider tasks · 3 practice sets · 19 questions