No. There must be (a) recorded instrument(s) giving the authority for a HOA to file a lien.
Yes, a contractor with a lien on a house may still be entitled to payment even if the bank takes back the house from the builder. The lien gives the contractor a legal claim against the property for unpaid work, and they could potentially recover their payment through the foreclosure process. However, the contractor's ability to be paid depends on the priority of the lien and the specific circumstances of the foreclosure. It’s advisable for contractors to consult legal counsel to understand their rights in such situations.
No, you can be sued for unpaid debts, but no judge is going to order you to sell your house in order to pay them. At most, a judge might order a garnishment of your paychecks.
Yes, an unpaid house is considered an asset because it holds value and can be sold or used as collateral for a loan.
unpaid taxes are listed online under whatever house they are on
The possessive form for the noun contractor is contractor's. Examples: The contractor's tools were at my house. I am going to the contractor's building tomorrow to discuss the cost.
That completely depends on the contract you signed with them. First you need to determine if you have the legal right to terminate the contractor as per the contract. Generally one of the three conditions have to be met: the contractor is court ordered into bankruptcy, makes a general assignment for the benefit of creditors due to contractors insolvency, or a court appoints a receiver to the contractor Secondly, the contractor is entitled to receive funds for the work he has reasonably completed to date. I would get advise from a lawyer before the contractor slaps a lien on the property and before you know it there is a legal demand before the courts to have your house sold to pay the unpaid invoice
Yes, a lien can be placed on a house by creditors to secure payment for debts owed. This typically occurs when a homeowner fails to pay bills, such as property taxes or mortgage payments, or in cases of unpaid contractor services. The lien gives the creditor a legal claim to the property, which may affect the homeowner's ability to sell or refinance the house until the debt is resolved.
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Hafeez Contractor
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