Some states interpret a mortgage as being purely a lien on real property. The mortgagee thus has no right of possession but must foreclose the lien and sell the property if the mortgagor defaults.
Related information about lien theory:
- What Is The Difference Between a Title Theory and a Lien Theory ...
Mar 17, 2000 ... Often a buyer wonders if he is buying property in a state which is considered a " title theory state" or a "lien theory" state. Why would you need to ...
- United States Map of Title Theory States and Lien Theory States ...
Click here for state abbreviations. TITLE Theory States v. LIEN Theory States · T - ALABAMA · T - ALASKA · T - ARIZONA · T - ARKANSAS · T - CALIFORNIA ...
- lien theory - Legal Definition
lien theory definition: nounThe concept that a mortgage is a form of lien on the property that does not grant the mortgagee any ownership rights until a ...
- Mortgage law - Wikipedia, the free encyclopedia
6.2 "Title theory" and "lien theory" ... A civil-law hypotheca is exactly equivalent to an English mortgage by legal charge or American lien-theory mortgage.
- Lien Theory Law & Legal Definition
Lien theory refers to the concept that mortgage is a form of lien on the property, so the mortgagee acquires only a lien on the property and the mortgagor retains ...
- What is lien theory state? definition and meaning
Definition of lien theory state: A state in the U.S. in which an individual who takes out a mortgage to buy a property holds the title to the property. In a lien theory ...
- MERS Tutorial: LIEN Theory vs. TITLE Theory
In the first five parts of this Tutorial, we really have been focusing on the first method known as Lien Theory. In Lien Theory states, the real property is pledged , ...
- Lien-Theory States: Definition from Answers.com
States whose laws give a lien on property to secure debt; contrasted with title - theory states in which the lender becomes the title owner.