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Flashcards in chapter 10 Deck (32)
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31

what is IRS lien?

a federal tax lien result from person's failure to pay any portion of federal taxes such as income and withholding taxes.

32

what is commercial real estate broker lien act?

permits commercial sponsoring brokers to place a lein on property in the amount of the commission they are instilled to receive for leasing as well as for sale under a written brokerage agreement in the event they are not paid for their services. this lien applies to commercial property only and it must be recorded before closing to be enforceable