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Absolutely not. You cannot be your own creditor.
Absolutely not. You cannot be your own creditor.
Absolutely not. You cannot be your own creditor.
Absolutely not. You cannot be your own creditor.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoAbsolutely not. You cannot be your own creditor.
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Can a creditor's lawyer place a lien on a financed vehicle in the state of Texas?
When you signed the contract to finance the vehicle, the creditor put a lien on the vehicle. In the rare event that this was not done, it can be done later in some cases.Also, a creditor can place a lien on an already financedvehicle if there is more equity in the vehicle than the amount of the original loan. Generally, a creditor who obtains a judgment lien against you can arrange to place that lien against any property you own in order to satisfy the lien.
Who owns the vehicle you or the lien holder?
Well, you own the vehicle subject to the lien. You cannot sell or refinance the vehicle until the lien holder is paid. If you don't pay the lien, the lien holder can repossess the vehicle. So you own it subject to your paying the loan.
If you default on a personal loan can a lien be place against your vehicle?
If you own your car, its an asset, probably
Can a creditor place a lien against a house or car that's not paid for?
Yes. As an example, if a car is stored for a certain length of time without the storage charges being paid, the storage company can put a lien on it to pay for the storage. If the vehicle is not picked up after a "certain length of time" and the owner has been "properly notified" the vehicle can be sold in a lien sale. Laws vary a bit from state to state, but the basics are similar.
Do you own your vehicle if the title is clear off lien holders?
yes
Can you sell a vehicle with a lien on the title?
Legally No. How can you sell something you do not own. As long as there is a lien, you do not own the vehicle outright. Go see the lender and get a lien release, if you no longer have a loan on the vehicle. Remember the lender is part owner of the vehicle until you make that last payment. If you clear the lien buy using the proceeds from the sale, you can guarantee a title within 30 days (required by law) to the new buyer. The lien holder will then release the title.
Can a lien be put on your spouse's vehicle if you do not own it and it is for a judgment again you and not your spouse?
its lion
Who has to own the house to place a lien against it?
That would be the debtor.
Will an impounded vehicle be turned to the lien holder?
Not unless the lien holder goes and retrieves it from impound themselves. The reimbursement of government fees (federal, state, or municipal) outweighs the priorities of the lienholder. When a vehicle goes into impound, the agency which impounded the vehicle puts their own lien on it, and that lien takes priority over the original lien. If the vehicle is not retrieved from impound, it will be auctioned off, and the lien holder basically gets shafted in the process. The person who took the lien out on the vehicle will owe the remaining balance still, and one of the money the agency auctioning the vehicle makes will go towards reducing the amount owed to the lien holder. To that end, you're better to let the lien holder repossess the vehicle and auction it, rather than have it impounded.
Is it possible to create your own tax lien certificate by placing a lien on someone's home without their permission if they have delinquent tax?
No. Only the IRS and/or state tax agencies can place a lien against real property of the person who has tax arrearages. Also, only the IRS or States can get a lien filed without going to court.
What legal trouble can you get into for selling a car for parts but has a lien on it?
A lot. Legally whoever has a lien on the vehicle owns the rights to it until your loan/balance due is satisfied. You have no legal right to sell the car in the first place because you do not own it and would have to be an utter fool to do this.
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.
