A Judgment, Once Recorded, Is a Lien That Will Last

question 42

True/False

A judgment, once recorded, is a lien that will last forever unless the judgment is paid.

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Definitions:

Educational Savings Plan

A savings account specifically designed for funding future education expenses, often offering tax advantages or other incentives.

Simple Interest

A method of calculating interest where the interest charge is based only on the principal amount, not on previously earned interest.

Total Interest

The entire amount of interest paid over the life of a loan or financial product.

Graduation Present

A gift given to an individual in celebration of completing an educational milestone, such as graduating from school or university.