A Texas vendor's lien is:
Question & Answer
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A lien held by a contractor
A contractor's lien is a mechanic's lien, which arises from work performed on the property, not from a sale transaction. These are governed by different statutes and have different priority rules.
A seller's lien for unpaid purchase price
A government tax lien
Government tax liens are statutory liens imposed by government authorities for unpaid taxes, not arising from private sale agreements between buyer and seller.
A lien for HOA fees
HOA fee liens are specific to homeowner associations and arise from violations of covenants or unpaid association dues, unrelated to the purchase price between buyer and seller.
Why is this correct?
A vendor's lien specifically refers to a seller's (vendor's) right to place a lien on property for the unpaid purchase price when the buyer fails to complete payment as agreed in the sales contract.
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