A lien intended to prevent the sale of property until litigation concludes is termed:

Get ready to ace the Metro Brokers Academy Test. Enhance your skills with flashcards and multiple-choice questions, complete with hints and explanations. Prepare thoroughly for your exam!

A lien intended to prevent the sale of property until litigation concludes is known as an attachment lien. This type of lien is commonly utilized to secure a creditor’s interest in a debtor's property while legal action is pending. By placing an attachment lien, a creditor can ensure that the property cannot be sold or transferred until the outcome of the litigation is determined, thereby protecting their potential claim against the property.

In contrast, a vendee's lien typically secures the interests of a buyer in a real estate transaction until the transaction is formally completed. A mechanics lien protects the rights of contractors and laborers who have not been paid for work done on the property but does not directly relate to ongoing litigation. A mortgage lien, on the other hand, is a legal claim against property used as security for a loan, which does not apply to the scenario of preventing a sale due to awaiting litigation results.

Thus, attachment liens serve a specific legal purpose that directly corresponds to the need for securing interest during pending legal disputes, distinguishing them from the other types of liens mentioned.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy