Question

What type of lien can become senior to all other claims to a property? a. Mechanics lien b. Tax lien c. Specific lien d. General lien

Real Estate is the single largest component of wealth in society

True/False

Answer 1

What type of lien can become senior to all other claims to a property? a. Mechanics lien b. Tax lien c. Specific lien d. General lien

Tax lien can become senior to all other claims to a property as paying government taxes becomes top priority before paying any other kinds of claim on the property.

Therefore correct answer is option b. Tax lien

Real Estate is the single largest component of wealth in society

This statement is true.

Real Estate is the single largest component of wealth in society. It is approximately half of the total economic wealth of the world.