Yes, the title company that issues tolved in anything to do with that house & property have beeen pfoaid) the lien against the property will keep a seller from selling it with "Clear title " however the seller could sell it for a lesser amount i.e there is a 5K lien on it so the seller sels it to a person for 5K less than its worth . lenders will not lend on property with claims against title. but a seller financed property could easily have a lien against it.
Answer/ClarificationThe question should be, "Should a property with a tax lien be sold?" The answer is no.
The purpose of a tax lien is to notify the world that the town, state or federal government has an interest in the property for unpaid taxes that must be paid before the property is transferred to a new owner. The liens create a legal interest in the property; a claim that affects the title. The seller is obligated to see that the lien gets paid before the property is transferred to a new owner. The buyer is obligated to see that the lien gets paid from the proceeds they hand over to the seller. Again, the purpose of the lien is to notify the public of the obligation. In the normal course of real estate transfers a seller doesn't reduce the selling price by $5,000 if there's a $5,000 tax lien on the property, he pays the lien off with the $5,000. Besides that, the amount of the lien may have grown.
The first answer is from a victim of the modern misconception that IF I can do it then it's okay to do it. Or, they are involved with the darker side of real estate transactions that rely on the quick "flips" by people who ignore the rules and brought the world economy to its knees. In the case outlined in the first answer, the buyer would be misinformed. While it is technically possible to transfer property with tax liens via a cash sale (there is no local, state or federal police officer monitoring your actions), the buyer would find themselves in trouble. Especially if they tried to sell the property before the liens are paid.
Tax liens grow with interests and costs added. At any legitimate closing the buyer's attorney will contact the lienholder to determine the final payoff amount of the lien, especially with a cash deal. That is the purpose of a title examination performed by a professional. Where there is one tax lien there are usually more and you could be dealing with what we call a "deadbeat" in the industry. Any and all liens will travel with the property and will grow. The buyer of a property with unpaid tax liens may find they owe more than the property is worth. In addition, some government official may come knocking to ask why they turned cash over to a seller whose property was subject to recorded tax liens. The buyer would be left "holding the bag".
Maybe. Some liens, including tax liens, utility liens, and homeowners' association or condo association liens, take priority and can result in foreclosure of your home. You should consult with a real estate attorney if you have questions regarding liens on your home.
No a home with a lien on it cannot be sold. A lien gives first right to the property to the creditor.
If they get a judgement, yes they can do that. And as long as the lien as valid, when the home is sold, the proceeds have to be used to clear the lien and mortgage.
Yes. The lien will be enforced when the home is sold.
IF ONE OWNS A HOME & HAS A LIEN PLACED AGAINST THEM IT WOULD ATTACH TO ONE'S HOME & WHEN SOLD, THE LIEN MUST BE PAID OUT OF THE PROCEEDS.
No; however, the agency can file a lien on your home for past-due support. That lien will have to be satisfied before the home can be sold.
NO, they can attach a lien to be paid FIRST if/when the home is sold.
The lien isn't transferred to the heir- it remains a lien on the inherited real estate, which cannot be sold or refinanced until the lien is paid.The lien isn't transferred to the heir- it remains a lien on the inherited real estate, which cannot be sold or refinanced until the lien is paid.The lien isn't transferred to the heir- it remains a lien on the inherited real estate, which cannot be sold or refinanced until the lien is paid.The lien isn't transferred to the heir- it remains a lien on the inherited real estate, which cannot be sold or refinanced until the lien is paid.
There is a lien or was a lien on the property and the lien was sold to a 3rd party such as an attorney
No
Not necessarily: if a lien is placed against a home this means that if the house is ever sold within a particular time then the amount of the lien must be taken from the sale of the home to satisfy the lien. In most states the home in which the debtor lives is exempted from being forcibly sold (Sheriff's sale). This is called a homestead exemption.
Yes, a lien is put on your home because you have liability and it doesn't matter whether you have mortgage or not.
Absolutely, it would have to be satisfied or released when and if the home was ever sold.
The only way a person can obtain a lien on a home is for the homeowner to agree to the lien in writing or the lender must sue the homeowner in court for non-payment of the car loan. If they win they can request a judgment lien from the court and that lien can be recorded in the land records. The property cannot be sold or mortgaged until the lien is paid off.The only way a person can obtain a lien on a home is for the homeowner to agree to the lien in writing or the lender must sue the homeowner in court for non-payment of the car loan. If they win they can request a judgment lien from the court and that lien can be recorded in the land records. The property cannot be sold or mortgaged until the lien is paid off.The only way a person can obtain a lien on a home is for the homeowner to agree to the lien in writing or the lender must sue the homeowner in court for non-payment of the car loan. If they win they can request a judgment lien from the court and that lien can be recorded in the land records. The property cannot be sold or mortgaged until the lien is paid off.The only way a person can obtain a lien on a home is for the homeowner to agree to the lien in writing or the lender must sue the homeowner in court for non-payment of the car loan. If they win they can request a judgment lien from the court and that lien can be recorded in the land records. The property cannot be sold or mortgaged until the lien is paid off.
Yes, but the lienholder can only receive the actual amount of the sale.