What does a Vendee's Lien allow?

• A. Transfer of property without a foreclosure sale.
• B. Claim against property still owned by vendor for deposit recovery.
• C. Immediate recourse against the title insurer.
• D. Protection against future claims on the property.

Answer: (B)

A Vendee's Lien allows a buyer, or vendee, to assert a claim against the property they are purchasing in order to recover any deposits or payments they have made toward the purchase price if the seller, or vendor, fails to fulfill their obligations under the contract. This legal right ensures that the purchaser has a means of recourse in the event of the vendor's breach of contract or failure to transfer the title as agreed.

The Vendee's Lien provides the buyer with a security interest in the property, making it possible to claim their funds directly from the property itself rather than from the vendor's general assets. This is particularly important in real estate transactions, as it helps to protect the buyer's financial investment in scenarios where the vendor may not have the ability or willingness to return the deposit.

This is not about transferring property or providing immediate recourse against a title insurer, nor is it dealing with future claims on the property. Instead, it specifically addresses the recovery of amounts paid, affirming the buyer's rights in transactions involving real estate.