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In many jurisdictions, a "lien" is merely a reference to a potential claim to some portion of value represented in the property. Until the lien is foreclosed, there is no possessory interest, but at foreclosure by the lien-holder, the property can be liquidated and the value of the lien withdrawn from the proceeds.
You can certainly buy, sell, pledge, mortgage, gift, or otherwise transfer property with one or more liens (recorded or not), as long as the recipient is willing to accept the risk that the lien's value may be forfeited some day.
Clarification: Perhaps you could describe your lien more fully but I am assuming you believe you have a prior lien on the property. Where is notice of this lien located? If there is notice of your lien then the lender has missed it and their mortgage is subject to your lien. If they need to foreclose down the road they would need to pay you off. Could you be more specific? For instance, in Massachusetts there may be "constructive mortgages" that arise in divorce cases where one party is ordered to pay something to the other party at some future time or if some action occurs. The H may be ordered to convey his interest to W but she is obligated to pay him a certain sum if the property is sold or refinanced. That would constitute a constructive mortgage and would be senior to any subsequent mortgage. Some title companies don't check divorce records for such encumbrances. We must in Masachusetts because that court can affect title to real estate.
What else can I help you with?
If you have a lien placed on your house does this mean you can't refinance your mortgage OR buy a new home until that lien is removed?
The lien doesn't usually affect after-acquired property unless it's an income tax lien. You cannot mortgage, refinance or sell the property against which the lien was recorded. That is exactly the purpose of recording a lien in the land records.
Is having a lien on your property a bad thing?
Having a lien on your property is generally considered a negative thing because it means that there is a legal claim against your property for an unpaid debt or obligation. This can affect your ability to sell or refinance the property until the lien is resolved.
Does a lien on property mean that a debtor needs to evacuate the property?
If a lien is recorded on a property, the occupant is not forced to move. However, if the owner should decide to either refinance their property or sell it, the debtor would receive the payment of the debt through the proceeds.
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.
When creditor puts lien on your home will mortgage company make you pay it or foreclose on your home?
As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.As long as you keep making your mortgage payments the bank can't foreclose. However, you cannot refinance or sell the property until the lien is paid. If you sell, the net proceeds after paying off the mortgage would go to the lien holder to satisfy that lien.
Can you place a lien on the home of someone who owes you money awarded to you from the court of law?
You should be able to obtain a judgment lien from the court and record that lien in the land records. The owner then couldn't refinance or sell the property without paying off your lien. If there are other liens on the property they would have priority over yours.
How do you get a vendor to sign over a vendors lien so you can refinance?
A "vender's lien" is a mortgage in favor of the person who sold the property to you.You must pay the lien.You must get the creditor to agree to subordinate their lien to your new mortgage.
Refinance your mortgage if you owe back taxes?
Do you have a lien on your home? If a lien is placed on your home, you will not be able to refinance to pay back taxes.
What does it mean when someone puts a lien on your home in California?
It means that you owe someone money, they have obtained a judgment against you and you will not be able to sell or refinance your property until the lien is paid and a discharge is recorded.
What documentation do you need to place a lien on real property?
==Anwer== In order to place a lien on someone's property you must bring an action in the appropriate civil court in your area. If you are successful the court will issue an execution that will be recorded in the land records and a copy will be served on the debtor by the sheriff. The debtor will not be able to sell or refinance their property until the lien is paid.
I have a tax lien on my home can I refinance it?
The lender will require that the lien be paid off with proceeds from the refi if the refi is approved. No. A lien encumbers the property and it cannot be sold nor refinanced without being satisfied or settled before any other financial transaction occurs.
When does a special assessment become a lien on real property in Oregon?
When improvements become determined and fixed.
