“Blanket encumbrance” defined. “Blanket encumbrance” means any mortgage, deed of trust, option to purchase, mechanic’s lien, vendor’s lien or interest under a contract or agreement for sale, judgment lien, federal or state tax lien or other lien or encumbrance which secures or evidences an obligation to pay money or to sell or convey any property made available to purchasers by the developer or any portion thereof and which authorizes, permits or requires the foreclosure or other disposition of the property affected. The term does not include a lien for taxes or assessments levied by any public authority which are not due.
Last modified: February 27, 2006