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If a surviving parent has a lien against property they own and now they reside in a nursing home can ownership be transferred by quick deed?
Wiki User
∙ 11y ago
Yes, as long as the buyer is willing to accept title subject to the lien, in other words, pay it off to clear the title, or accept the risk that nobody else will ever want to buy it with the lien.
Many people buy properties with liens, fully expecting to pay off the liens as part of the "price" of ownership, and the compensation to the seller is adjusted accordingly.
For example, I offered to buy a property in foreclosure and pay off the lien for timber taxes as part of the "deal." Buyer pays off the notes, seller pays off the tax liens, obtains clear title and an extra tax deduction.
Wiki User
∙ 11y ago
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Is title insurance transferred in a conveyance of real property?
No. Title is transferred when the owner executes a deed that transfers ownership to the new owner. The deed must be recorded in the land records immediately to be effective against the world.No. Title is transferred when the owner executes a deed that transfers ownership to the new owner. The deed must be recorded in the land records immediately to be effective against the world.No. Title is transferred when the owner executes a deed that transfers ownership to the new owner. The deed must be recorded in the land records immediately to be effective against the world.No. Title is transferred when the owner executes a deed that transfers ownership to the new owner. The deed must be recorded in the land records immediately to be effective against the world.
Judgments - can a judgment be filed on a gifted property?
Yes. Your ownership status is just the same as if you had bought the property. Any legal judgment against you can attach to the property.
Can a property lien br transferred to the next property?
Generally, a lien usually stays on the property against which it was recorded. The exception is state and federal tax liens which attach to after-acquired property.
Can you sell property and still have insurance on the property and collect on it?
The insurance policy will be transferred in the name of the new property owner and will be entitled to all benefits against the said policy.
Can a seller transfer a deed to the buyer if a federal tax lien is against the property and can the property be settled?
NO. You cannot transfer the ownership of the property UNTIL the lien is paid off, in full.
Can you put a lien against property that is not titled or deeded in that persons name?
You can file a court case if you have any evidence that the person transferred the property to avoid creditors. The court will issue an 'ex parte' lien against the property if you are successful.
You co-signed a mortgage for property you don't own. Can a lien be placed on that property for your own personal debt?
No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.
Can a buyer put a lien against property if you decided not to sell to them?
English letter sample - car transfer ownership
Is a lien the same as a claim?
A lien is a claim against the value of property, such as a house or a car. The property cannot legally be sold or transferred without settling the lien.
What is title insurance for?
Title insurance protects you against hidden problems with the ownership of the property, i.e. if the seller doesn't have full rights to sell. It insures that there are no liens or mortgages left unsatisfied on the property. When a buyer purchases a property, title insurance protects them from any claims of ownership, lien, or mortgage placed on the property before the buyer takes title to the property. If the information upon which the title insurance is based is incorrect, and a claim is asserted against your ownership of the home, then the policy indemnifies or protects you from experiencing a financial loss directly attributable to a claim that is covered by the policy.
What can be done if I owe property taxes and do not pay?
Answer: The municipality can record a Tax Taking against your property and eventually take ownership through a court decree for non-payment of taxes.
Does a general warranty deed that is alread transferred to grantor protect it from the previous owners creditors?
First, property is transferred by deed to the grantee. If the property is transferred to avoid creditors the creditors can still attach it through a court process. If there are already judgment liens, tax liens and mortgage liens recorded against the property then you would acquire it subject to those liens. They do not go away if you transfer the property to someone else.
