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That will depend on what the lien is for. In most cases, paying the rent does nothing to liquidate the debt. If the lein is for the rent, then yes, it should reduce the amount, as long as the current rent is being paid.
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Assessment is disputed on fully paid condo mortgage - what would a lien do?
The effect of a lien is to cloud title based on monies owed. The title cannot change hands without the removal of the lien, meaning the lien amount is paid before title is clear.
Does a HOA lien get wiped out if condo is foreclosed by mortgage lender in California?
Liens are not 'wiped out': liens are paid. When the foreclosed property is sold, the lien may be paid from the proceeds, depending on its priority and the amount earned from the sale.
Can a lien be filed for nonpayment of assesments from a condo association?
Yes.
How can you clear a lien on your condo?
Pay off the lien and obtain a valid release that should be recorded in the land records.Pay off the lien and obtain a valid release that should be recorded in the land records.Pay off the lien and obtain a valid release that should be recorded in the land records.Pay off the lien and obtain a valid release that should be recorded in the land records.
If the condo is foreclosed on during the lien can you be sued for the lien amount after the condo has been foreclosed on?
You are responsible for all debits to the Association and Mortgage holder until the unit is sold. If the unit is sold the New owner get to pay your bad debit, the mortgage company will hold you responsible for any difference between the sales price and what is owed.
What does it mean if a condo association puts a lien on your condo if you haven't been able to pay your asessment fees?
As an owner, it means that your title to your unit is 'clouded' -- your title is encumbered/ not clear -- by the amount of your assessments past due and accumulating, that remain unpaid. A lien may also appear on your personal credit report if the title is in your name.
Where do you pay a lien on your condo in clearwater?
Your association -- or whomever placed the lien on your title -- can describe the steps necessary for you to follow in order to release the lien and clear your title.
Special roof assess lien on condo that's on the market as a short sale Considering there are 30 other units with the lien should I pay my portion off to help the unit sell?
Whether you negotiate a reduction in the sell price by the amount of the special assessment, or pay it off, the minus amount to you will be the same.Said another way, you will pay the special assessment one way or the other.
What happens when a lien is placed on a condo?
A lien on the deed -- unit's title -- clouds it, meaning that monies to satisfy the lien must be paid before clear title can be transferred.
How do you put a lien on a condo for due fees?
Read your governing documents and work with your association attorney to file a lien for unpaid assessments.
If your home is in foreclosure status can a lien be placed for a unsecured debt?
YES. Condo Fees
Home association filing a lien I live in broward county Fl. and the lien is for 1010. This is false and I was wondering if there is a minimum amount they need to show in order to file the lien?
You need to review the document that sets forth the provisions, rules and regulations of the Homeowners Association. If there is a mininum amount for filing a lien it should be recited in the document. You should request a meeting with the governing board where each party can provide documentation as to the amount they think is owed. If you have proof of payment they should reduce the amount of the lien. If you don't then you should settle on the amount due before they seek a judicial decree that once issued will affect your credit record.
