Yes. Statutory liens include tax liens, mechanic's liens, judgment liens, etc.
Involuntary. "a mechanic's lien is an involuntary, statutory, special lien, whereas a mortgage is a voluntary, equitable, special lien." source: http://www.realtown.com/words/lien ---------------------- Your welcome :)
A judgment lien is an involuntary lien.
An involuntary lien would be a judgment lien by a creditor, a lien for unpaid property taxes or income taxes, a demolition lien, a lien for unpaid common expenses or homeowners association dues or a mechanic's lien. Contrast that with a lien you granted in your property such as a mortgage which would be a voluntary lien.
An agricultural lien is a statutory lien - legal claim - which protects the seller of farming equipment by giving the seller a lien on crops grown with the equipment.
No. The lien holder would have to go to court and ask for a garnishment. He can keep the lien at the same time until all the amount is paid.
A lien is merely a kind of security for a debt. If the contract provides for interest, then the lien, if properly drafted, will cover that. In most states there is a statutory interest rate. If the contract doesn't provide for interest, then interest will accrue at the statutory rate and the lien, if properly drafted, will cover that as well.
According to the definition of 'involuntary lien' on Answers.com: "Judgment lien, lien for unpaid taxes or special assessment by a municipality that attaches to a real property without consent of the owner, in contrast with a mortgage lien, which is voluntary." You can read more, below. An appropriate reaction is to contact the municipality -- or creditor that sent the notice -- that levied the lien, and work to clear up the debt. There may be a court judgment involved, in which case, you can find a copy of the judgment in your local courthouse.
Yes, depending on the type of lien. Judgment liens accrue interest at a statutory rate. In Massachusetts that rate is 12%.
In most cases, yes. A judgment lien begins to accrue interest at a statutory rate as soon as it is issued. The rate in Massachusetts is 12%. A lien for income, property or employment taxes accrues interest from the time of the assessment. Interest can cause the amount due to increase rather quickly. The costs of obtaining the lien are also included. It's wise to pay up as soon as possible.In most cases, yes. A judgment lien begins to accrue interest at a statutory rate as soon as it is issued. The rate in Massachusetts is 12%. A lien for income, property or employment taxes accrues interest from the time of the assessment. Interest can cause the amount due to increase rather quickly. The costs of obtaining the lien are also included. It's wise to pay up as soon as possible.In most cases, yes. A judgment lien begins to accrue interest at a statutory rate as soon as it is issued. The rate in Massachusetts is 12%. A lien for income, property or employment taxes accrues interest from the time of the assessment. Interest can cause the amount due to increase rather quickly. The costs of obtaining the lien are also included. It's wise to pay up as soon as possible.In most cases, yes. A judgment lien begins to accrue interest at a statutory rate as soon as it is issued. The rate in Massachusetts is 12%. A lien for income, property or employment taxes accrues interest from the time of the assessment. Interest can cause the amount due to increase rather quickly. The costs of obtaining the lien are also included. It's wise to pay up as soon as possible.
A lien means you owe someone money and they have a claim against your property until the debt is paid. A voluntary lien such as a mortgage can be considered a good thing since you initiated that lien process and benefitted from it by being able to purchase the property with a loan from the bank. Involuntary liens such as tax liens or judgment liens are not a good thing.
No one. Liens can only arise on valid debts. They can be statutory (such as a mechanics lien) or judicial ( a judgment lien). However, bankruptcy discharges the underlying debt, unless the debt was one not subject to discharge (such as taxes of a student loan). These creditors can pursue these debts, receive a judgment and enforce collection through a judgment lien.
Yes. 8 months unless the lien holder has waived thweir right to a deficiency. Then it's 12.