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What's a lien

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Anonymous

10y ago
Updated: 8/21/2019

Debt

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10y ago

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Whats the most that can happen to you in the state of Illinois when your car is reposessed?

Most?? Your wages can be garnisheed, a lien attached to other personal property you own. NO JAIL time...


Can you negotiate a payment after a lien is put on house by a credit card company?

Yes! When a lien from a credit card or any unsecured debt shows up on a property title search, its a second to the primary lien. Any mortgage or taxes would be paid first. So if you were buying or selling a house with that type of lien, you can contact the company who placed the lien and offer them an amount to settle their claim. Its usually far less than whats owed because they could get nothing in many cases. Many settle for 10% to 20%.


Is Illinois a lien or a title theory state?

Indiana is a lien theory state.Indiana is a lien theory state.Indiana is a lien theory state.Indiana is a lien theory state.


Can you have a lien put on someones own home if they owe monies from another job site?

Mechanic's lien- no.Mechanic's lien- no.Mechanic's lien- no.Mechanic's lien- no.


What is the difference between a transfer of lien and release of lien?

A transfer of lien assigns the lien claimant's position in the lien to another party. A release of lien discharges the lien and makes it not appear on a title policy issued for the property.


Can a junior lien supersede a senior lien?

A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.


What is an involuntary lien against my property?

An involuntary lien would be a judgment lien by a creditor, a lien for unpaid property taxes or income taxes, a demolition lien, a lien for unpaid common expenses or homeowners association dues or a mechanic's lien. Contrast that with a lien you granted in your property such as a mortgage which would be a voluntary lien.


How do you spell lien?

lien


IS THERE A LIEN ON IT?

is there a lien on this car


what is this lien for?

what is this tax lien for


Is an assignee a lien holder?

An assignee of a lien is the new lien holder.


What does this property in a LIEN SOLD status mean?

There is a lien or was a lien on the property and the lien was sold to a 3rd party such as an attorney