Check Your Understanding Answers
- What is a lien?
A creditor's claim against personal or real property as security for a debt of the property owner
- What are four legal features of a lien?
- A lien does not convey ownership, with the exception of mortgage liens.
- A lien attaches to the property.
- A property may be subject to multiple liens.
- A lien terminates on payment of the debt and recording of
- List four types of liens not subject to the homestead exemption. (Additional answers on page 34.)
- Purchase money on the homestead
- Taxes on the homestead
- Debts owed to the federal government
- Encumbrance that existed on the property prior to becoming a homestead
- What additional benefits does a California homeowner gain by recording a homestead declaration?
- Protection for voluntary sale of the property
- Rebuttable presumption that the homestead is valid
- A judgment creditor’s lien attaches only to surplus equity
