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URL:https://www.learndesk.us/class/4960291886465024/lesson/ef0a521cce2063d3c2d37c10ac044e1a?ref=outlook-calendar
SUMMARY:Mortgage Concepts
DTSTART;TZID=America/Los_Angeles:20260516T190000
DTEND;TZID=America/Los_Angeles:20260516T200000
LOCATION:https://www.learndesk.us/class/4960291886465024/lesson/ef0a521cce2063d3c2d37c10ac044e1a?ref=outlook-calendar
DESCRIPTION: Lien vs. Title Theory State
• Lien theory state-lender of the mortgaged property holds equitable title rather than a legal title; the borrower holds legal title. FL is a lien theory state. • Title theory states-the lender holds legal title to the mortgaged property until the mortgagor satisfies the terms and obligations of the loan.
Hypothecation
• Use of real property as collateral for a mortgage loan.
Lien priority
• Order in which liens against a property are satisfied.• The highest priority lien is paid by foreclosure proceeds before any other lien.
Superior Liens by rank
• Real estate tax liens • Special assessment liens • Federal estate tax liens • State inheritance tax liens
Junior Liens by date of recording
• Federal income tax liens • Judgment liens • Mortgage liens • Vendor's liens • Mechanics liens (priority by date work performed)

https://www.learndesk.us/class/4960291886465024/lesson/ef0a521cce2063d3c2d37c10ac044e1a?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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