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The lien must be paid at the time of the sale. You can sell your house, but the title company will pay the lien out of your proceeds or require you to come to the table with the money if there is not enough received from the sale. This is because they need to provide clear title to the house to the new owners.
Wiki User
∙ 14y ago
Wiki User
∙ 16y agoYes, but as part of the settlement the lien will be considered and the buyers agent and especially the mortgage company will demand satisfaction of the lien before the property transfer is completed. If the lien is improper, it may be possible to sue to have the lien removed. In some states leins must be satisfied within a given time period otherwise they become worthless. Also in some states, a contractor only needs to come by to do "warranty" work to start that clock over. Liens can be tricky and are usually best discussed with a real-estate attorney.
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What happens to a lien on a house after it expires?
The lain stays with the mortgage. And if the owner of the mortgage does not settle up with the lien holder that person cannot sell their house, car, boat or whatever the lien is on. They have to pay lien first or sell and before they get the money the amount of the lien will be deducted from total sell
Can you sell your house with a federal tax lien on it?
Not without satisfying the lien or you can subordinate a tax lien in order to sell the house. Sometimes, the IRS will allow you to do this, if they believe it will help you to pay your tax liability.
How does one sell his or her home on which the IRS has placed a lien?
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.
What if a lien is on your house?
You can not sell your house or if you die your home will go to the people who have a lien on your home.The best thing to do is to pay off the lien which is usually someone or a bank you owe money.
What happens if there is a lien on my house?
It means that you can't sell your house without paying your bills.
Can a construction lien holder force you to sell your home?
In a 'worst case scenario' probably they can. They have a legal lien against your property to satisfy an unpaid debt that is owed them. If they take you to court and are awarded a judgment against you, and your home is your only monetary asset, the court COULD order you to sell it to in order to pay off the lien.
If a credit card company has a judgment on you in Tennessee can they take your home if you own it?
no,,,,,,but they can put a lien on it,,,and when you sell your house,,it has to pay the lien amount,,,before you get any money from the house.
If a wife is on the deed of the property can she sell the house and keep the money if there is outstanding lien?
No, the lien will be satisfied first. Also, she cannot sell the house without the approval of a spouse or other interested party, unless there is a court order to do so.
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 long is a property lien for in New Mexico?
The lien stays with the property until it is paid. You cannot sell a car or a house, for instance, until the lien is paid and you have clear title. Usually the lien on a house is paid for at closing, either from the proceeds of the sale or money that you bring to the table.
How can I sell a vehicle in Texas that has a mechanic's lien?
Either pay off the lien and then sell the vehicle, or sell the vehicle and use the money to pay off the lien.
Can you sell off acreage if it is on a lien I own 40 acres the house is on 20 acres and the other 20 acres is plotted ready to sell can I sell off the 20 acres?
The property is subject to a lien. The question isn't whether you can sell it. The problem is that the buyer won't buy the property as long as there's a lien on it. Your attorney will need to negotiate a partial release or a full release with the lienholder if you will pay off the lien, or half of the lien, out of the proceeds from the sale of the 20 acres. If you don't pay the lien in full and the lienholder agrees to a partial payment then the lien will still be an encumbrance on your remaining property.
