You are a broker. Your sales associate is new and can't remember the key differences between lien types. You remind them: Liens can be voluntary or involuntary. Voluntary liens are created with the owner's consent. A lien can only apply to one piece of property a debtor owns Because of this, liens are always specific. Legally, liens cannot be involuntary. They must be created with the owner's consent and if they're not, they're illegal All liens affect all of the debtor's property. That's why they're also called general liens.
You are a broker. Your sales associate is new and can't remember the key differences between lien types. You remind them: Liens can be voluntary or involuntary. Voluntary liens are created with the owner's consent. A lien can only apply to one piece of property a debtor owns Because of this, liens are always specific. Legally, liens cannot be involuntary. They must be created with the owner's consent and if they're not, they're illegal All liens affect all of the debtor's property. That's why they're also called general liens.
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Transcribed Image Text:You are a broker. Your sales associate is new
and can't remember the key differences
between lien types. You remind them:
Liens can be voluntary or involuntary. Voluntary
liens are created
with the owner's consent.
A lien can only apply to one piece of property a
debtor owns
Because of this, liens are always specific.
Legally, liens cannot be involuntary. They must
be created with the
owner's consent and if they're not, they're illegal
All liens affect all of the debtor's property.
That's why they're also
called general liens.
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