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Any lien covers past-due assessments: ongoing assessments if left unpaid means that you are enjoying the real estate at the expense of your neighbors.
Assessments continue even after a lien is filed: the lien may insure that all the assessments are paid at some time of future sale, but without these cash flow dollars, the association may not be able to pay its bills.
Assessments pay for the operation, maintenance, upkeep and protection of the real estate that all owners own in common.
Your continued enjoyment of that real estate assumes that you will pay for it: this is the purpose of assessments.
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Does satisfaction of lien pays the final judgment?
A satisfaction of lien is filed with the register of deeds after the last payment is made.
What kind of lien can a home owners association file?
Of all the types of liens that can be filed on a real estate title, the association can file a 'specialty lien' specifically to collect unpaid assessments. With a lien against the title, you cannot sell or refinance the unit until the lien is paid and satisfied, and the lien satisfaction filed with the appropriate court clerk.
Lien on property in which the debtor filed a Chapter 7 and listed the debt incorrect The lien is still valid but the title co and the lender refuse to acknowledge it How can you collect the money owed?
No.
What work can be done to a house if a mechanics lien is filed on the house?
Work may continue with no interference. However, you will be unable to sell the home without that lien being paid in full.
How do condo corporations collect money from owners in Calgary Alberta?
Owners are responsible for assessments and owe these debts to the association/ corporation. If unpaid, the association can bill the owner, file a lien against the owner's title or take other collection action. Association counsel is best involved in this action, since an inappropriate or poorly filed lien can be used by the debtor to escape payment. Otherwise, associations cannot 'collect' money' from owners.
How do you remove a satisfied judgment from title?
Generally, a lienholder gives the debtor a document called a Warrant of Satisfaction upon payment of the debt secured by the lien. Most state laws require that this be done promptly upon payment. The Warrant is then filed in the same office the judgment lien was recorded so the office can mark the lien satisfied.
Can a contractor lien the property and my vehicle?
Yes and no. The contractor can file a lien against your house for non-payment. Even if you honestly don't owe the contractor any money, he may still lien your house; he will eventually have to prove the lien's validity in court or it is automatically released. No lien can be filed against your car. However, if the contractor gets a judgment against you, that judgment may be executed against your car and home to secure payment.
A lien was filed due to credit card debt. I had no personal property at the time the lien was filed about 3 years ago. How does this affect my credit?
The lien is probably still in place, and the fact that it was filed is still on your credit file.
Can a contractor file a lien against your townhouse if your HOA is the one who hires him to rebuild the front porch and they now have a payment dispute?
Generally, yes. You are a member of the association, and the lien requirements may be that the lien be filed against all members, or all members in addition to the association's board.
Can an Home owners association put a lien on your property even while you are making payments?
You are not clear about who you're making payments to: the mortgage company for your mortgage, or to the association to pay assessments that are in arrears. If you mean payments to make up arrears, and the association filed a lien on your title, review the agreement that you made with them about making payments. It's possible that filing a lien is part of your agreement in some way. Or, that the association has filed a lien against you in error. If you mean payments to pay your mortgage, and you are not paying your assessments, your association filed a lien to collect monies that you owe in past-due assessments. (You have to pay both: mortgage and assessments.) If your assessments are up to date, check with the board to better understand why a lien has been filed by the association on your title.
What happens after a lien is filed on your home?
You will be notified of the lien/debt. In order to clear the home title (i.e.- for sale, or refinance, etc) the lien/debt will have to be satisfied. Depending upon the size of the lien and the circumstances, the lien holder may be able to force a sale of the property in order to collect the debt. It also depends on the lien holder's position. Priority is given to a tax lien, then the 1st mortgage, 2nd, etc.
What happens after a lien is placed on a property and waiting to get paid?
Each state is different, but a lien filed is only good for a certain amount of time in most cases. The person who filed has to either extend the lien on, i.e., a 6-month basis, or will have to sue to "perfect" the lien, which will then become a judgment against the person. A lien is only filed on a property.
