What term refers to the bona fide holder of a perfected lien in property?

Prepare for the Dallas Police Exam 7. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready to pass your test with confidence!

The term "interest holder" specifically refers to an individual or entity that holds a legal interest in a property, particularly one that has a perfected lien. A perfected lien is a claim against a property that has been officially recorded and is therefore enforceable. This designation implies that the interest holder has fulfilled all necessary legal requirements to assert their claim, making them the bona fide holder in relation to that property.

An interest holder typically has specific rights regarding the property, including the potential for recourse should the property owner default on obligations secured by the lien, such as mortgage payments. In legal terminology, the interest holder's position is crucial when determining who has priority over the property in cases of disputes or bankruptcy.

In contrast, the other options do not accurately represent the concept of a perfected lien. A property owner may own the property outright but may not necessarily hold a perfected lien. A claimant could refer to anyone who asserts a claim but does not specifically denote a perfected interest. An executor is someone appointed to administer a deceased person's estate, which does not directly pertain to being a holder of a lien in property.

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