SUPER LIEN Meaning and
Definition
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A super lien refers to a legal claim or priority of payment that exceeds all other liens and takes precedence over them. In the context of real estate, a super lien refers specifically to a property tax lien that holds priority over all other liens, including mortgages. This means that if the property owner fails to pay their property taxes, the government entity that imposed the lien has the right to foreclose the property and sell it to recover the unpaid taxes, irrespective of any other liens.
Super liens are often considered highly powerful and superior to other liens as they tend to have the first right to claim the property's assets in the event of foreclosure or sale. They can pose a significant risk to mortgage lenders and other lienholders, potentially reducing the value of their claims. Super liens are typically enacted to ensure the efficient collection of public funds, such as property taxes, by granting priority to the government entity involved.
It is important to note that super liens can vary in nature depending on the jurisdiction and applicable laws. While property tax liens are most commonly associated with super liens, other types of debts, such as unpaid common charges in a condominium association, may also be granted super lien status in some jurisdictions.
Common Misspellings for SUPER LIEN
- auper lien
- zuper lien
- xuper lien
- duper lien
- euper lien
- wuper lien
- syper lien
- shper lien
- sjper lien
- siper lien
- s8per lien
- s7per lien
- suoer lien
- suler lien
- su-er lien
- su0er lien
- supwr lien
- supsr lien
- supdr lien
- suprr lien
Etymology of SUPER LIEN
The term "super lien" is a combination of two words: "super" and "lien".
1. Super: The word "super" comes from the Latin word "super" meaning "above" or "over". In English, it is used as a prefix to indicate something that is higher in quality, quantity, or degree, or to describe something as surpassing or transcending.
2. Lien: The word "lien" comes from the Old French word "liens" meaning "bond" or "restraint". It entered English from French in the 17th century and refers to a legal claim or encumbrance on property as security for a debt or obligation.
Therefore, the term "super lien" is a combination of these two words and is used to describe a type of lien that holds a priority or superior claim over other liens or encumbrances.
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