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If you place a Mechanic's Lien on a piece of real estate for not payment of a debt can the property be sold without satisying the lien?
Wiki User
∙ 14y ago
Technically, the property CAN be sold, but it seldom is, because the buyer will take title to the property, subject to the lien. It is unlikely that a lender will give a loan on such a project. The buyer and seller have four common alternatives, negotiate and pay off the liens, bond the liens off by posting a bond, cash or surety, with the court and having the court void the lien, giving the lienholder security in the cash or bond held by the court, give the lien claimant a notice to commence suit (in Ohio the lien claimant has 60 days to file its foreclosure action or lose its lien rights-if you are trying to void someone's lien rights in this manner, be careful, you might just get sued-just what you told them to do in the notice), and fourth, having the title company insure through the liens. Depending on your relationship with the title company, they MAY consider doing this, but it is not usual. If you are the lien claimant, you will most frequently see this done where the sale is not an arms-length transaction, meaning that the seller and the buyer are somehow related and don't care that they are taking title subject to your lien. I have also written some articles for the Builders Exchange Magazine you may find helpful. You may find them at http:/ohiolienlaw.com/bx/resources.php . You may also find it useful to review your state's statutes. Here is a link to Ohio's Mechanic's Lien Statute. http://codes.ohio.gov/orc/1311 . I hope that this helps.
Wiki User
∙ 14y ago
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What is the importance of physics in mechanics?
Mechanics is a branch of physics so without physics there would be no mechanics!
How do you file a lien against an automobile left on your property that you had put work into without getting paid?
Talk to someone at your local court house about a mechanics lien
What is the difference between charge and mortgage?
Mortgage is a conveyanceof property, subject to a right of redemption whereas a charge only gives a right to payment out of a particular immovable property without transfering it
Can you sue a company that sold property without authority?
If they sold it without authority, they are committing conversion or theft. You will have to show ownership and that they did not have permission. They can defend with such things as abandonment, or that they took it in lieu of payment.
Where can you find a school that only teaches auto mechanics preferably without gen ed classes?
Your local mechanics shop
What steps can be taken to avoid the legal process of distraint?
Steps that can be taken to avoid the legal process of distraint is to pay the rent every month without elapsing on payment. When several payments are missed, the landlord can seize property to sell for payment of the missed rent.
How is math in mechanics?
EVERYTHING. Speed, number of gears, distance, diameter, size, volume, weight... without math there would be NO mechanics.
What does prompt payment mean?
The payment done without delay as per the schedule
How to File a Mechanics Lien?
Mechanics liens are a legal process used to assist contractors, mechanics and those in construction to obtain payment for services rendered. A mechanics lien could cover the home or building and the land beneath it or for mechanics a lien would cover the actual automobile. If a contractor has placed a lien on the property, the owner does not have a clear title until the debt has been paid.· The procedure to file a mechanics lien may vary depending upon the state you live in, so check with district court to make sure you file everything correctly.· Some states require a title search on the property to insure that the person that owes the debt is the owner of the property that you are placing the lien upon.· Notify the owner of the property by certified mail. Include the details of the service that was provided, when the work was completed and how much is owed. There are inexpensive forms available online and through the court system that you can easily complete yourself. Check your state’s court website for helpful packets and forms for filing. Attach a copy of the bill and the services provided. Make sure to keep copies of invoices and any other evidence that will support a judgment in your favor.· File the lien with the county where the property is located. Check your state’s guidelines on whether the lien and notice need to be served personally and by whom.· If you do not receive an answer, the Court will file a judgment in your favor. This is why it is important if you are the party receiving the mechanics lien to respond to the notice. If you neglect to file an answer to the mechanics lien, it may automatically result in a judgment in favor of the moving party.The time period you are allowed to file a mechanics lien may vary as well. You may only have 60 days from the date the labor was performed to have a mechanics lien recorded. Additionally, depending upon the state you live in, you may be required to wait 20 days after you have sent notice, which usually results in payment and avoids any further legal action.Mechanics liens are usually a simple legal action that can be carried out by a contractor without any assistance. If you are unsure of the procedure, check with an attorney.
What does the phrase without just compensation mean?
The phrase "without just compensation" means that something is being taken or deprived without fair or appropriate payment or reimbursement in return. It typically refers to constitutional provisions that protect individuals from having their property taken by the government without receiving adequate compensation.
What does payment on account by a customer mean?
It means to make a partial of full payment without specifying an specific reason or invoice for the payment.
Can the lender pay the borrowers property taxes without their knowledge or authorization?
Yes. A requirement that the bank will maintain an escrow account and pay the property taxes is usually part of the mortgage application process and is set forth in the documents you signed. The bank is protecting its investment against being taken by the town for non-payment of property taxes.
