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Generally, yes. Liens generally accrue interest for every day the debt remains unpaid.
Generally, yes. Liens generally accrue interest for every day the debt remains unpaid.
Generally, yes. Liens generally accrue interest for every day the debt remains unpaid.
Generally, yes. Liens generally accrue interest for every day the debt remains unpaid.
What else can I help you with?
Are both spouses responsible for a government lien on a house if only one of their names is on the house?
Both spouses are responsible for the DEBT represented by the lien, but the lien can only attach to the interest of whoever is actually on title to the property.
How can you protect your house or car from a lien holder?
The person has a lien because they have a legal financial interest in the property. That makes 'protecting' the property very difficult without either purchasing their interest from them or having their interest removed through bankruptcy.
What does is mean to have a lien on ones property and tenets?
A lien is a security interest in the property. A lien might arise from a loan. If you buy a car with the bank's money the bank will put a lien on the car. If you don't pay the bank back, it can foreclose on its lien and take the car from you. If you have a roofer add a new roof to your house, and you don't pay him, the laws allow the roofer to put a lien on your house. The roofer now has a stake in the house. If you don't pay off the lien your house can be forcibly put up for sale in order to satisfy the lien. I believe "property and tenets" translates into modern speak as "property and belongings".
Who needs lien insurance?
The lien holder would. A lien holder has a financial interest in the property
Can you stay in house if state puts a lien on it?
Yes. A lien is how the taxing authorities protect their interest in the property of an individual or business that does not pay its taxes. The state did not take away the proprietary right yet.
Can a junior lien be interest only?
no
Does a lien gain interest?
yes
Your sister owns one quarter of a home but has an IRS lien how do you get her name off the house?
Unfortunately, it is too late. The IRS has a lien on your sister's interest in the property. If she was to convey her interest to you, which would be the only way to get her name off the property, the lien would remain on her interest in the property. The only way to get the lien released is to pay the balance due. IRS liens last for ten years and they have thirty days to refile. You cannot sell or refinance the property until the lien is paid. You can read about federal tax liens at the link below.
Can a house be built on a property with a lien without being encumbered by the existing lien?
No. Once a house is built it becomes an intrinsic part of the real estate. If the land has a lien on it the lien holder will get your house.
How do you add interest charges to a real estate lien?
Interest on a judgment lien is set by state statute. If you don't have an attorney perhaps the court that issued the judgment could help you figure out the interest due you on your lien at payoff time. The interest rate in Massachusetts is 12%.
If a person has a lien on their first house and they are trying to buy a second house can they put a lien on the second house if the title insurance says they have to?
Yes, if the title insurance requires it, a person can place a lien on their second house, even if they already have a lien on their first house. This typically occurs when the lender wants to secure their interest in the new property, especially if the buyer's financial situation is leveraged due to the existing lien. However, the ability to do so also depends on the terms of the existing lien and the specific regulations governing liens in their jurisdiction. It's advisable to consult a legal or real estate professional to understand the implications and requirements fully.
What does a court recording of a lien mean?
It means that the court is officially documenting that a lien exists to protect the lien-holder's interest.
