A purchase money mortgage, or seller financing, is a type of vendor’s lien in which a seller has the right to repossess a piece of real estate from a delinquent buyer. It is commonly used when a buyer has poor credit and cannot secure a loan from a bank or other lending institution...
A vendor lien is a legal claim imposed on a property by a vendor for any unpaid debt on services rendered or materials provided. Understanding the legal basis for liens is essential in facilities management. That’s because contractors, subcontractors, and suppliers are involved in significant tran...
A vendor's lien is a lien in favor of the "vendor" or the seller of real estate. When a warranty deed contains a vendor's lien, the buyer agrees to allow the seller to seize the property until the property is paid for in full. It's used in situations where the buyer is taking i...