North Dakota Code 35-20-01 – Vendor’s lien on real property for purchase price authorized
Current as of: 2023 | Check for updates
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One who sells real property has a special or vendor’s lien thereon, independent of possession, for so much of the price as remains unpaid and unsecured otherwise than by the personal obligation of the buyer.
Terms Used In North Dakota Code 35-20-01
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.