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Usually after a suitable release is filed in the property records. A release is obtained either from the lien-holder when the debt has been satisfied or by a court order (e.g., invalid or otherwise bogus liens).
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Is a lien on a property considered real or personal property?
A lien is considered personal property.A lien is considered personal property.A lien is considered personal property.A lien is considered personal property.
What is the Difference between a mechanic's lien and an artisan's lien?
Artisans lien is against personal property and is possessory. Mechanic's lien relates to real property.
Does a judgment act the same as a lien when you sell real property?
When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.
What does a lien on real property accomplish?
The property cannot be sold or mortgaged until the lien has been paid.
How do you put a mechanic's lien on a motorcycle?
You don't. A Mechanic's Lien is a legal instrument that can be used by a contractor, business or person who has made improvements to real property. For example, a company installs windows in a house and the homeowner who contracted the service does not pay the bill, the contractor can then file a Mechanic's Lien against the property where the windows were installed by recording the lien in the land recorder's office in the county where the property is located. That is actually not true. A mechanics lien is a lien that can be put on any type of vehicle due to an unpaid bill for the services that you receive. For instance, if you take your vehicle to a shop and then fail to pay them, they can put a mechanics lien on it until the balance and services are paid for in full. That is why it is called a "mechanics" lien. If you are not a licensed mechanic, you cannot put a mechanics lien on anything. However, you can go to your local county courthouse to file a standard lien.
Do you need a civil court judgment to file a lien on property?
Generally, a civil judgement automatically becomes a lien on a defendant's real property if the court in which it was granted also enters it into the state's judgment docket. Sometimes, the plaintiff has to send a copy of the judgment to the office that dockets judgments and only then will it become a lien.
A lien that affects all of the real and personal property owned by a debtor is called?
General lien.
How do you pursue a property lien?
For real property the lien must be recorded in the land records. The property cannot be sold or refinanced until the lien is paid. If you want to take possession of the property you should consult with the sheriff or an attorney who specializes in representing creditors.For real property the lien must be recorded in the land records. The property cannot be sold or refinanced until the lien is paid. If you want to take possession of the property you should consult with the sheriff or an attorney who specializes in representing creditors.For real property the lien must be recorded in the land records. The property cannot be sold or refinanced until the lien is paid. If you want to take possession of the property you should consult with the sheriff or an attorney who specializes in representing creditors.For real property the lien must be recorded in the land records. The property cannot be sold or refinanced until the lien is paid. If you want to take possession of the property you should consult with the sheriff or an attorney who specializes in representing creditors.
Mechanics lien can be placed on any of the owners property or only be placed on the property where the work was done or is a general lien and can be placed an any real or personal property?
A mechanic's affects the property where labor or materials were supplied for the improvement of that property. They are governed by state law and if the lien is not paid off with a certain short time period the lien must be 'perfected' by some court action to foreclose on the lien.In some states the lien can be perfected in court and a judgment lien will be issued that once recorded in the land records can affect other property owned by the debtor. However, prompt follow up of the original mechanic's lien according to state requirements is required for the creditor to maintain their right to relief.
What is judgment debt on property?
If someone has taken you to court and won a money judement in their favor the court will issue a judgment lien that can be recorded in the land records against your real property. You cannot sell or refinance your property until the lien is paid. The lien affects any property you may own. If you have no real property the sheriff can sieze any personal property you own in order to satisfy the lien.
Where are liens filed?
To be effective against real property a judgment lien (or any other type of lien that affects real property) must be recorded ASAP in the land records office in the jurisdiction where the property is located.
What is the Statute of limitation on real estate debt?
If the debt is on real property, there is no limit. The debt is a lien against the property and the debtor collects on sale. A lien is valid as long as the property exists, and land seldom disappears.
