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DISCLAIMER A statement denying legal responsibility, frequently found in the form of, "There are no promises, representations, oral understandings or agreements except as contained herein." TAX LIEN A general statutory lien imposed against real property for failure to pay taxes. There are federal tax liens and state tax liens. JUNIOR MORTGAGE A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid first. BUILDING PERMIT A written permission granted by the County Building Department and required prior to beginning the construction of a new building or other improvement (including fences, fence walls, retaining walls and swimming pools). AGREEMENT OF SALE An agreement between the seller (vendor) and buyer (vendee) for the purchase of real property. |
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