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In simple terms ,a Chattel Lien is the process of a person or business taking ownership of the vehicle or vessel. They may file this lien due to services and or materials provided at the request of the owner or if they have not been compensated for the services and/or materials.
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Is a mortgage a lien?
The answer to your question is yes. A mortgage is a lien against real estate. Generally, there are two different categories of mortgages in the US. A mortgage in a lien theory state does constitute a simple lien against the property. When it's paid off the lender will release t its lien. A mortgage in a title theory state is an actual conveyance of the property to the lender. However, the transfer is conditional. If the mortgage is paid the lender must return all its right, title and interest to the mortgagor by recording a discharge. In a title theory state the lender can take possession of the property and sell it if there is a default in the mortgage. In a lien theory state a judicial process is used in the case of a foreclosure.
Can the creditor attach or 'take' other property to satisfy deficiency?
James, don't know what state you are in But unless your state prohibits it, YES. The lien will "attach" to the property and when she gets ready to sell it, lien will have to be satisfied first. NO.They can only go after what property was secured by the loan.
If you have a judgment lien against you from a credit card collector and you do not own a home what can they do?
Judgment (judgment lien) collection procedures include: *Examinations--you have to come to court and answer questions *Garnishment of bank accounts or wages *Execution on motor vehicles or boats *other procedures that vary from state to state
What are the advantages offered by the Chattel mortgage package?
The Chattel mortgage package offers competitive rates, which is their main advantage. They also have a range of flexible mortgage packages which may be an advantage.
How do you stop garnishments in Washington State?
no
How do you file a Chattel lien in Washington State?
A chattel lien sale affidavit form must be filed with the local county auditor. A letter must also be sent by the lien applicant via certified mail to the registered owner of the property in question. A copy of the letter along with certified return receipt or proof of mailing must be submitted to the county auditor.
How would you put a lien on a car from out of state?
How to put a lien on a car in Arizona when I live in Washington state
Is it fraud if you sell something that is collateral?
Collateral meaning there is a lien or chattel against the object, then the answer is yes IF YOU DONT INFORM THE BUYER, and get approval from the lien-holder.
When is the deadline to file a lien in Washington State?
You have 90 days from the last day on which labor was performed or goods provided to the property against which the lien will be filed.
How long can a lien stay on a residential property in Washington State?
Every type of lien has its own statute of limitations. You would need to research the type of lien.
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 a lien for child support be lifted on a car you bought in Washington state?
Not until the arrearages for the support are paid.
Is Maryland a lien theory state or a title theory state?
Lien theory state.
Is Oklahoma a lien theory state?
Oklahoma is a title theory state, not a lien theory state.
Who can file Mississippi tax lien?
The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.The town or county can file a property tax lien. The state can file a state income tax lien.
Can a lien be placed on home for unpaid plumbing work?
Yes. Generally, the rules vary from state to state but the plumber can record a mechanic's lien and then follow it up with a lawsuit that may result in a judgment lien on the property.Yes. Generally, the rules vary from state to state but the plumber can record a mechanic's lien and then follow it up with a lawsuit that may result in a judgment lien on the property.Yes. Generally, the rules vary from state to state but the plumber can record a mechanic's lien and then follow it up with a lawsuit that may result in a judgment lien on the property.Yes. Generally, the rules vary from state to state but the plumber can record a mechanic's lien and then follow it up with a lawsuit that may result in a judgment lien on the property.
What is the time in which a creditor can colllect against a lien?
You need to check the type of lien and the state laws for any particular state. State laws vary.You need to check the type of lien and the state laws for any particular state. State laws vary.You need to check the type of lien and the state laws for any particular state. State laws vary.You need to check the type of lien and the state laws for any particular state. State laws vary.
