Your association -- or whomever placed the lien on your title -- can describe the steps necessary for you to follow in order to release the lien and clear your title.
Your mortgage lender is the person who can tell you how to proceed. Generally, a lender will require that you pay the debt and remove the lien before a new financial agreement can be made based on the property.
Yes, a condominium can put a lien on your condo. The condominium depends on your payments to keep up the common areas. As a result, it has the right to collect its fees plus interest when you sell it if you do not pay your assessments and a lien is filed. As well, the association may be able to sell your unit in order to collect these unpaid assessments. Read your governing documents to remind yourself of your agreement to pay assessments and of your association's responsibility to pursue you until the assessments are paid. When you do not pay your assessments, you're essentially asking your neighbors to pay your bills.
Yes.Read your governing documents to verify that your monthly assessments represent an automatic lien on your title.When your board decides to file a formal lien, they are taking one of several steps they are entitled to take to collect the debt, including selling your condominium.(When you don't pay your assessments, you ask your neighbors to pay your bills.)It's a good idea to pay your assessments each month.
Yes.
You are responsible for all debits to the Association and Mortgage holder until the unit is sold. If the unit is sold the New owner get to pay your bad debit, the mortgage company will hold you responsible for any difference between the sales price and what is owed.
As an owner, it means that your title to your unit is 'clouded' -- your title is encumbered/ not clear -- by the amount of your assessments past due and accumulating, that remain unpaid. A lien may also appear on your personal credit report if the title is in your name.
Pay off the lien and obtain a valid release that should be recorded in the land records.Pay off the lien and obtain a valid release that should be recorded in the land records.Pay off the lien and obtain a valid release that should be recorded in the land records.Pay off the lien and obtain a valid release that should be recorded in the land records.
Yes, a lien on your title, which clouds it, becomes public record and can affect your credit rating.
If Massachusetts is like most other states, the attorney who filed the lien on behalf of the association can provide you a total amount to pay, which includes the lien amount, the attorney's fee and the filing fee.In order to lift or remove the lien, you must pay these amounts -- usually to the attorney, who will then distribute the funds to the association and keep his/her fee and expenses.Once paid, the attorney can direct you in the process to follow so you can file a 'release of lien' document with the local court, thus clearing title to your unit.
A lien on the deed -- unit's title -- clouds it, meaning that monies to satisfy the lien must be paid before clear title can be transferred.
Read your governing documents and work with your association attorney to file a lien for unpaid assessments.
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