A purchaser's lien is a form of security interest that a buyer has in the property they are purchasing, ensuring that they have a claim to the property if the seller fails to deliver the title after the buyer has paid part or all of the purchase price.

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A Purchaser's Lien

Question 27

Multiple Choice

A purchaser's lien

A) is usually found within a mortgage document.
B) allows a purchaser to occupy a piece of land before the full purchase price is paid.
C) usually results in an order for specific performance.
D) is available only as long as the purchaser has possession of the property.
E) is a form of security.

Correct Answer: