Building Company adds a shipping dock to the property of Corporate Complex, but the owner does not pay. Building files a lien on Corporate's property. The property
A)can be held to guarantee payment of the debt.
B)must be sold to provide payment of the debt.
C)must be returned to the debtor within a certain period of time.
D)none of the choices.

Question

Quizplus · Accepted Answer

A lien on a property, like the one filed by Building Company, serves as a legal claim against the property to secure payment of the debt. It does not automatically require the sale of the property but can be used to guarantee payment.

Building Company Adds a Shipping Dock to the Property of Corporate