Which transaction involves a judicial sale to reclaim land covered under a Vendor's Lien?

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Prepare for the Real Estate Transactions Exam with study materials and multiple choice questions with comprehensive explanations. Enhance your real estate knowledge and boost your confidence for exam day!

In the context of real estate transactions, a Vendor's Lien arises when a seller retains an interest in the property until the buyer fulfills their payment obligations for the purchase price. This type of lien allows the seller to reclaim the property if the buyer fails to pay as agreed. When the buyer defaults on the payment, the seller can initiate a judicial sale, which is a court-ordered sale of the property to satisfy the debt secured by the Vendor's Lien.

The transaction involving a judicial sale to reclaim land specifically pertains to C, which is a lien for the unpaid purchase price. This indicates that the seller has a legal right to reclaim the property if the buyer does not complete their payment, thereby necessitating court intervention to sell the property and recover the outstanding amount.

On the other hand, a lien for unpaid property taxes typically allows the government to recover taxes owed through a tax sale, not connected to a Vendor's Lien. A claim against a buyer for deed restrictions pertains to the enforcement of property use restrictions and does not involve a reclaiming action for unpaid purchase price. Lastly, a standard mortgage repayment plan is related to loans secured by mortgages, separate from the concept of a Vendor's Lien that pertains to the seller-buyer dynamic in

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