The pro rata formula for distributing funds that are not sufficient to cover all liens means that the amount is distributed equally among the lien holders.
Correct Answer:
Verified
Q26: Public property is exempt from liens.
Q27: All states allow subcontractors to collect the
Q28: A tenant always has the right to
Q29: Common law gives priority to lien holders
Q30: Under the common law rule for lien-holder
Q32: Owners have no liability to lien holders
Q33: "Beginning of construction" is defined as when
Q34: A mortgage recorded after the start of
Q35: In the majority of states, the filing
Q36: A purchaser is subject to liens only
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents