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What are all the liens included in junior liens?
The types of liens that are common junior liens are mortgages filed after the first, Home equity lines of credit (HELOC), mechanic's liens, back child support payments, property taxes, past due HOA assessments, dues and fees, IRS, court judgments (if they are attached to your property by a judge). If the first mortgagee successfully forecloses on a property, all liens attached are wiped out except for property taxes, IRS liens, and child support.
How do judgments affect obtaining title insurance?
When transferring title from one owner to another, all liens or judgments should be cleared prior to transfer or you will not be able to insure properly
If you have an existing judgment lien which has been abstracted can the lien attach to property which you will buy in the future?
yes, because the majority of judgments and liens attach to the person, not necessarily the land; however the liens do attach to any land owned by the person ==Clarification== Not all jurisdictions recognize priority of recorded judgment liens as to after-acquired property. In Massachusetts recorded federal and state tax liens affect after-acquired property, judgment liens do not.
Can debt consolidation stop future liens on bank accounts Including medical bills credit debt What if you would like to keep a personal credit card and consolidate all the others.?
Debt consolidation can not stop liens or judgments. However, if those debts are included in the consolidation and are accepted by the creditor, then judgments and liens may be prevented. In a debt consolidation, you generally can keep one personal credit card while consolidating the others. To learn more about consolidation and eliminating debt, check out the link below.
If my home has a declaration of homestead on title does this protect my home from liens?
A declaration of homestead can offer some protection against certain types of liens, particularly those related to unsecured debts, by designating your home as your primary residence and protecting it from forced sale to satisfy those debts. However, it generally does not protect against all liens, such as mortgage liens, tax liens, or mechanics' liens. It's important to understand the specific laws in your state, as protections can vary significantly. Consulting a legal expert can provide clarity on your situation.
How do you buy property when the owner has judgments?
The judgments must be paid off in order to clear the title. You should not consider buying property unless you are represented by an attorney who specializes in real estate, especially property that is owned by a debtor. There are many different places an attorney will check for any liens against the property. If you are represented by an attorney it will be the attorney's responsibility to make certain all the liens are paid off and properly released of record.
Can one property have more than one lien against it?
The liens must be paid before the property can be transferred.The liens must be paid before the property can be transferred.The liens must be paid before the property can be transferred.The liens must be paid before the property can be transferred.
Can a lien be tranfored to a new home and removed from present home you are selling?
Never heard of this. Normally you sell your house for enough to pay off all liens and encumberances.
Can a lien be placed on your home for medical bills if a collection agency purchased the debt in Florida?
No, a lien is not possible for a medical debt. However, if the collections agency was to sue you and one a judgment that would effect your home if you tried to sell or refinance. This is because a title search is done in both cases, and will list all the taxes owed, mortgages, liens, and any judgments in the name of the listed owners; and the courts require payment of all those debts in that order of priority.
Tax Lien priority in foreclosure?
Well it depends on what type of Tax lien we are talking about. But first rule of thumb, liens have priority based on Irs Tax liens are prioritized like most other liens, by date of recordation. Actually IRS liens can fall further down the list based on when perfected.....but all in all, IRS tax liens do not supercede other legal liens State Tax Liens can superced tax liens depending upon State laws but stilll are subordinate to all other previously filed legal liens. Property Tax liens take priority over all liens, regardless or recordation, perfection, etc. Think of it this way, when you buy property, property taxes are an inherent obligation that attaches as soon as the ink on the deed is dry. There's no attorney on earth that can record a mortgage lien that fast!
Do real estate liens expire?
Certain liens expire but not all. Liens for unpaid property taxes do not expire. Other types of liens have different statutes of limitations that differ in each state. You need to check the particular type of lien and the particular state to determine the length if its effective life.Certain liens expire but not all. Liens for unpaid property taxes do not expire. Other types of liens have different statutes of limitations that differ in each state. You need to check the particular type of lien and the particular state to determine the length if its effective life.Certain liens expire but not all. Liens for unpaid property taxes do not expire. Other types of liens have different statutes of limitations that differ in each state. You need to check the particular type of lien and the particular state to determine the length if its effective life.Certain liens expire but not all. Liens for unpaid property taxes do not expire. Other types of liens have different statutes of limitations that differ in each state. You need to check the particular type of lien and the particular state to determine the length if its effective life.
I am starting a business that will rely on verifying free and clear titles .I want to set up a title company that verifies title strictly for my other company. How can I verify title?
Real Estate titles can be verified at the clerk's office in the Deed Books. All Deeds are recorded & liens too. These are all publice records. That would be the court house in the city or county, where the property is located.
