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Your lien would be ineffective if the debtor no longer owns the property. If the property was foreclosed- the debtor no longer owns the property.
Your lien would be ineffective if the debtor no longer owns the property. If the property was foreclosed- the debtor no longer owns the property.
Your lien would be ineffective if the debtor no longer owns the property. If the property was foreclosed- the debtor no longer owns the property.
Your lien would be ineffective if the debtor no longer owns the property. If the property was foreclosed- the debtor no longer owns the property.
Wiki User
∙ 12y ago
Wiki User
∙ 15y agoGenerally, no. Once the property has been sold it's too late to place a lien against it. When someone owes you money and you obtain a court judgment you must arrange to record the lien immediately so that the property can't be sold without your lien being paid. If the property has already been sold you're too late.
A plaintiff who has filed a suit against a property can record a lis pendens to preserve their "possible future lien" and notify the world that a lawsuit has been filed that affects the ownership of the property. That may extend the lien by notifying any potential buyer that they will take title subject to the lawsuit and there may be a monetary lien in the future.
Wiki User
∙ 13y agoIf the deed to the new owner is an "arm's length" transaction and has been recorded the creditor is too late and they are out of luck. A deed executed to avoid creditors, such as conveying your property to your sister, can be rendered invalid by a court. You need to include more details.
Wiki User
∙ 16y agoIf the deed has been recorded by the new owner the lien would have no effect.
Wiki User
∙ 12y agoYour lien would be ineffective if the debtor no longer owns the property. If the property was foreclosed- the debtor no longer owns the property.
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Does a lien on property mean it has to be sold in California?
A lien is paid out when the property is sold. It will come out of the proceeds paid to the seller for his recorded lien before a clear title can be issued to the new buyer. Otherwise, it just sits there as a matter of record.However, if the lien is large enough to be worth the trouble of foreclosing on it, the creditor may force the sale of the property to pay the lien.
What type of attorney can place a judgment lien?
The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.The creditor must obtain a judgment lien from the court. They must sue the debtor and if they win they can request a judgment lien from the court. The lien can be recorded in the land records and the debtor's property cannot be mortgaged or sold until the lien is paid.
Judgment liens are what type of lien?
A Judgment Lien is a lien placed on property by a creditor to recover a certain sum of money granted by a judgment awarded in court. The property can not be sold legally while the lien remains unpaid.
What does this property in a LIEN SOLD status mean?
There is a lien or was a lien on the property and the lien was sold to a 3rd party such as an attorney
What is the purpose of a lien being placed against real property?
A lien prevents the property from being sold without paying off the creditor. After a certain period of time, it is possible to foreclose on the property, sell it, and collect the amount of the lien, the balance going to the property owner or other creditors.
Can a HOA's judgment be filed as lien against the property and at the same time seize assets such as a financed vehicle?
The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.
What are the repercussions of having a lien on your property?
Your property cannot be sold or mortgaged until the lien is paid. If the lien is substantial the creditor can force a sale of the property. If the lien is for property taxes the town can get a court order, take possession of and sell the property. You should also be aware that interest begins to add up on any judgment lien until it is paid off. The debt will grow larger.
Can a bank put a lien on your house if you do not pay off a personal line of credit?
If the "line of credit' is in the form of a mortgage recorded in the land records then the lender can foreclose and take possession of the property. If it's not a mortgage then the creditor can seek a court judgment and if successful can then record a lien against your property. The property can't be mortgaged or sold until the lien is paid. If not paid and if the lien is for a substantial amount the creditor can sieze the property and sell it in most jurisdictions.
What can a credit card company do if an Alzheimer patient fails to pay off the balance?
The creditor can seek a court judgment and if successful can record a lien against the debtor's property. The lien must be paid before the property can be refinanced or sold. The creditor can also file a claim against the debtor's estate.
How do you get a vendor to sign over a vendors lien so you can refinance?
A "vender's lien" is a mortgage in favor of the person who sold the property to you.You must pay the lien.You must get the creditor to agree to subordinate their lien to your new mortgage.
Can a house be sold if there is a lien on it?
Not necessarily. A lien is for a debt which is secured by the property. It might be for a loan the owner got, or it might be for work done by a contractor who wasn't paid (mechanic's lien). If the debt is in default, then the property might be subject to being sold to raise money to cover the debt (the property owner would keep any proceeds over the amount of the lien). Or, the lien may simply lie dormant until the owner wants to sell, and hinder the sale until it is satisfied. In Texas, if the home is your Homestead. It cannot be taken from you whether or not you have a lien unless that lien is a Mortgage lien or property tax lien. If it is a Mechanic's Lien, meaning that there was work done on the property and the debt is unpaid, that person may file a lien of the property. In this case, if and only if you are selling the property, must the lien be satisfied. In some cases the person who performed work on the property my sue for the balance which may result in your having to sell the property to satisfy the lien. When you close on the property at a Title Company, all liens are paid before clear title can be transferred. In either of the aforementioned scenarios the lien will be satisfied. In general, the homestead of an individual is safe from any creditor unless it is for mortgage default or for failure to property taxes of any kind which in some cases also includes Home Owner Association dues.
If you have a judgment against you in Pennsylvania can you lose your house?
The forced sale of a primary residence is possible by a judgment creditor. However, this seldom happens as the procedure is lengthy and costly, generally the judgment creditor will place a lien on the property thereby encumbering it so that it cannot be refinanced, have the title transferred or sold until the lien is satisfied. Whether or not a valid lien is possible and/or a forced sale of the property is viable depends largely on how the property is titled.
