If there were improvements made on the home or a loan taken out against the property, and they person/company goes through the proper steps, yes. The property being in trust does not affect that ability.
Yes, a lien can be placed on a house that is in a trust in California. It would be placed against the beneficiaries listed on the property.
Yes, a lien can be filed on a piece of real property, regardless of the owner. However, the reason for the lien has to be directly related to the actual owner or the property itself. i.e., if a trust owns a house and I live in the house, and you have a judgement against me, there is no attaching a lien on the house for my debt.
A judgment lien is good for around 20 years in most jurisdictions. It must be rerecorded every six years in Massachusetts.
You would be aware if a lien is placed on your property. You should receive notice and a copy of the lien.
There is no limitation on a properly filed lien. It is valid until discharged.
Yes they can.
A lien can be put on the property if he has a debt that is owed. If he doesn't own the house, a lien can still be placed on the property. The property has its own value and so does the house.
No a proof of debt must be present in order to put a lien on your house like a signed contract
Yes, depending on the type of lien. Judgment liens accrue interest at a statutory rate. In Massachusetts that rate is 12%.
A lien is usually created on something when someone has used that something as collateral. Ex. A house that has been paid off can have a lien placed on it by taking a out a home equity loan. The house is now used as colateral. The lien is placed by the loan institution. Hope this helps.
They have to have permission from the courts or judge to have a lien placed on the property. It won't automatically transfer to another house.
No. If the loan is secured by a mortgage or deed of trust, then the lender can foreclose that mortgage or deed of trust. Otherwise, the lender will need to obtain a court judgment against the borrower, which will automatically place a lien against all real estate owned by the borrower.
If you have equity, yes
Answer: In Massachusetts you would be served notice by a Deputy Sheriff who also records the lien in the land records.
Depends on who has placed the lien. I would contact the entity that has placed the lien and ask them what conditions you need to satisfy to have the lien removed.
A FIFA lien is a document placed on your house after a creditor obtains a judgment against you. The document is issued by the local county clerk's office.
No. They can only place a lien on your bank account. If your name isn't on the deed or mortgage they can't touch it.
Absolutely, it would have to be satisfied or released when and if the home was ever sold.
Yes. The trust must be drafted by a professional to make certain it is a valid trust. The property must be transferred to the trust prior to the lien. You should consult with an attorney who specializes in trust and tax law.Yes. The trust must be drafted by a professional to make certain it is a valid trust. The property must be transferred to the trust prior to the lien. You should consult with an attorney who specializes in trust and tax law.Yes. The trust must be drafted by a professional to make certain it is a valid trust. The property must be transferred to the trust prior to the lien. You should consult with an attorney who specializes in trust and tax law.Yes. The trust must be drafted by a professional to make certain it is a valid trust. The property must be transferred to the trust prior to the lien. You should consult with an attorney who specializes in trust and tax law.
To sell your home, you put a FOR SALE sign out front. If the value of the lien is less than what you will get out of the house, then when you sell the house and pay off the lien, you get the rest of the money. If the lien is for more than the house is worth and you are ready to move elsewhere, you hand the keys to the IRS and say. "Here, have fun. It is all yours." At that point you owe more on the house than the house is worth.
A lien can be placed upon any property if first, there is a judgment. You first have to have a judgment, where a debt is actually proven in a court of law, leaving a judgment. THen, if not satisfied, they certainly can lien your house. Anyone holding a judgment that is not satisfied can lien your house.
A lien can be placed against almost any property.
can a lien be placed on my home based on a family members credit card debt?
The lien doesn't usually affect after-acquired property unless it's an income tax lien. You cannot mortgage, refinance or sell the property against which the lien was recorded. That is exactly the purpose of recording a lien in the land records.
If you accept a vehicle title that has a lien placed on it you become responsible for settling that lien