Currently, Korea is split into two countries: North Korea and South Korea.North KoreaNorth Korea is a unique type of state, properly classified as a DYNASTIC COMMUNIST STATE. This means that the country is a Communist State, but has succession in leadership passing along a dynastic line like a monarchy. Some consider Dynastic Communism to be part of the Absolute Monarchy category, because of the similarities, while others argue that since the leader of a Dynastic Communist State does not use royal titles that the state is not a proper monarchy.It is important also to notice the vast differences between North Korea and other Communist regimes. It has a dynastic rulership as opposed to a Politburo like the USSR or PR China. It has a strong statist religion (Juche) in place of a pure absence of religion, making it resemble a theocracy more than an atheist secularist regime. The military in North Korea also has a more direct role in governance than even the Peoples Liberation Army in PR China and this is more representative of Caudillo-states like Ghadhafis Libya or Francos Spain.South KoreaSouth Korea is a PRESIDENTIAL REPUBLIC, which is a form of indirect democracy. This means that there is an elected President who serves as the head of state and the head of the government. The President has a large number of powers, but those powers are checked by the Constitutional Court and the National Assembly. The National Assembly, the unicameral legislature, is responsible for passing bills to be reviewed by the President. (The United States is also a Presidential Republic, which is why the system might look familiar to Americans.)
Is Massachusetts a lien theory state?
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How are mortgage liens treated in Massachusetts? Massachusetts is generally known as a title theory state where the property title remains “in trust” until payment in full occurs for the underlying loan.
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These are the title theory states:
- Alabama*
- Alaska.
- Arizona.
- California.
- Colorado.
- Washington D.C.
- Georgia.
- Idaho.
One may also ask, is Utah a lien theory state? Utah primarily operates as a title theory state where the property title remains in trust until payment in full occurs for the underlying loan. Utah law also permits mortgages to serve as liens upon real property and for judicial foreclosures to occur through the courts.
People also ask, what is a lien theory state?
In a lien theory state, the buyer holds the deed to the property during the mortgage term The buyer promises to make all payments to the lender and the mortgage becomes a lien on the property, but title remains with the buyer. The Deed of Reconveyance removes the lenders interest in the property.
Is California a lien theory state?
It is settled law that California is a “lien” and not a “legal title” theory state when imposing encumbrances/liens against the title of real property. California has a 150-year history of development and evolution in the way its courts have applied legal principles to mortgages and deeds of trust.
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