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What is the time in which a creditor can colllect against a lien?
Wiki User
∙ 11y ago
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.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoYou need to check the type of lien and the state laws for any particular state. State laws vary.
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When a lien is filed on a property in Oregon can you contest it?
The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.
Are you supposed to be notified if someone puts a lien on your house?
Liens, in just about every state are for the protection of the creditor, not the debtor. You state laws will define what is expected for all liens that are filed. If you want to check if there are existing liens consult the county's public records.
What is the purpose of a lien being placed against real property?
A lien prevents the property from being sold without paying off the creditor. After a certain period of time, it is possible to foreclose on the property, sell it, and collect the amount of the lien, the balance going to the property owner or other creditors.
Can a creditor put a lien on my federal income tax refund?
A creditor can put a lien on federal income tax refunds and usually will when the debt is that of a student loan or child support. Other creditors can if the right paperwork is filed within a specified time frame to the IRS.
If you pay someone the money you owe that has placed a lien on your home will it stop the lien?
Yes. Paying what you owe is the first step in removing the lien. You need to take care in handling the payoff. At the same time the creditor should prepare and file a release of the lien that is in proper form for the type of lien in your jurisdiction. The creditor may need to notify the court that the judgment has been satisfied and the court will arrange for a satisfaction of the lien to be recorded in the land records by the local sheriff. Do not hand over the funds until you know how and when the lien will be officially released.
Can a HOA's judgment be filed as lien against the property and at the same time seize assets such as a financed vehicle?
The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.The law varies in different jurisdictions. Generally, a judgement lien followed by a levy on execution can be used to seize any property owned by the debtor that can be sold to pay the lien. The debtor should pay the lien as soon as possible in order to remove the lien from their property.The property would be held by the creditor subject to any prior liens against the property such as a car loan or mortgage. The property cannot be mortgaged, used as collateral or sold until the lien is paid.
Can a lien be place on your house if you continue to make small monthly payments on credit card debts?
A creditor does not legally have to accept any payment amount except that which is stated in the contract/lending agreement. Also when accepting a lesser payment the creditor is still not barred from using other methods including litigation to collect the debt. Evem of the debtor is making payments on the account the creditor can still file suit for the debt and if granted a judgment in most cases use it as a lien against the debtor's property. Because litigation is expensive and time consuming most creditors (not all) will try to work with the debtor. The debtor should contact the creditor to attempt to make other payment arrangements, not take it upon themselves to simply pay what they can afford.
If past the deadline to file a mechanic's lien is there another way to place a lien on real property if the owner owes me money for investing and working on their property?
A mechanic's lien serves to hold your place in line on the record title as a creditor WHILE YOU FILE a civil action against the person who owes you money. A mechanic's lien expires after a short period, usually 90 days. You are expected to obtain a court judgment and record a judgment lien against the property within the 90 day period. If you don't the mechanic's lien simply expires and you lose your place in line as a creditor. If you have a contract for services that has been breached you can still file a civil claim. If you are successful the court will issue a judgment in your favor and that judgment lien will be recorded in the land records and a copy will be served on the property owner by the sheriff. During the time you are waiting for your day in court other liens may be recorded that will take priority over yours.
Can HOA file a lien against a bank which holds the mortgage on an abandoned property if the Covenants say that the Assoc can file a lien against a homeowner if assessments are not paid in time?
In this case, apparently, the bank is the owner. So yes, the HOA can file the lien against the bank's ownership of this unit.
How do you place a lien on someones house without their consent?
Mechanic's Lien: Fill out the paperwork and file it at the county recorders office. There may be restrictions in your state, so it's best that you understand what you're doing before you go to the expense and put yourself into jeopardy. Many states require that the lien be placed within a specific period of time following completion of work. Some only allow liens for work performed by licensed contractors. Some require that the lienholder foreclose or perfect the lien by a court order within a specific period of time or the lien becomes invalid. Understand the law before you get involved in this rather confrontational procedure. Other Liens: A lien other than that of a Mechanic's lien is only possible when due process is followed according to the state law in which the debtor resides. The creditor must file a lawsuit in the appropriate state court, and if the creditor prevails in the suit a judgment will be entered against the debtor. The judgment can then be enforced in several ways, including a lien against non exempt real property belonging to the debtor.
Can a lien holder ask for more than the lien is worth?
The recorded lien represents the amount due at the time the lien was issued by the court. Court judgments carry interest for every day they go unpaid. In Massachusetts the rate is 12%. The interest can cause the amount due on the lien to grow, especially if years pass before the lien is paid. An attorney could review the amount the creditor is asking for to make certain they are not inflating the amount due. Or, you could check with the court that issued the lien.The recorded lien represents the amount due at the time the lien was issued by the court. Court judgments carry interest for every day they go unpaid. In Massachusetts the rate is 12%. The interest can cause the amount due on the lien to grow, especially if years pass before the lien is paid. An attorney could review the amount the creditor is asking for to make certain they are not inflating the amount due. Or, you could check with the court that issued the lien.The recorded lien represents the amount due at the time the lien was issued by the court. Court judgments carry interest for every day they go unpaid. In Massachusetts the rate is 12%. The interest can cause the amount due on the lien to grow, especially if years pass before the lien is paid. An attorney could review the amount the creditor is asking for to make certain they are not inflating the amount due. Or, you could check with the court that issued the lien.The recorded lien represents the amount due at the time the lien was issued by the court. Court judgments carry interest for every day they go unpaid. In Massachusetts the rate is 12%. The interest can cause the amount due on the lien to grow, especially if years pass before the lien is paid. An attorney could review the amount the creditor is asking for to make certain they are not inflating the amount due. Or, you could check with the court that issued the lien.
How can a judgment put a lien on your land?
Generally, the sheriff can sieze the property and sell it to pay the creditor the amount owed. Check your state laws. If the creditor doesn't request a sale and chooses to suspend action then the creditor need only wait. The recorded lien will affect any future sale or mortgage of the property. During the time it remains unpaid interest is added at an alarming rate. In Massachusetts the rate is 12 percent. A buyer or bank will insist the creditor be paid before completing any transaction. A lien originally in the amount of $1,100 was recently satisfied at a closing in the final amount of $3,600.
