A 'Claim' is a request for reimbursement for a loss covered by an insurance policy or a demand for something believed to be owed.
A general lien is a legal claim on all the property owned by a debtor, rather than a specific piece of property, for the fulfillment of a debt. This type of lien impacts every asset that the debtor owns.
An involuntary lien is a legal claim against property imposed without the owner's consent, often due to unpaid obligations like taxes or special assessments.
A judgment lien is a court-ordered claim upon a debtor's property, established to satisfy a debt ruled upon in a court of law. This lien ensures the creditor's right to a debtor's asset in case of non-payment.
A lienholder is an individual or entity that holds a lien on a property, thus having a legal right or claim against the property as a security for a debt or obligation.
Title defect refers to any issue or claimant that challenges the legal ownership of a property, preventing the owner from presenting a clear or marketable title. These defects can arise due to various reasons such as missing signatures on the deed, current liens, or interruptions in the title records.
A vendee's lien is a legal claim against a property that is given as security for a deposit paid by a purchaser under a contract of sale. This lien protects the buyer's interests should the seller attempt to breach the agreement.
