Yes, a loan can be considered a lien if the lender has a legal claim on the borrower's property as collateral for the loan.
Mortgage Lien - Is a legal claim against a mortgaged property that must be paid or assumed when the property is sold. The person who has the lien on the property can claim the property if the loan defaults. The mortage lien typically belongs to the lender in order to secure the mortgage loan.
A lien is a legal claim on a property to secure a debt, while a mortgage is a type of loan used to purchase a property, with the property itself serving as collateral for the loan.
The existence of a will has no bearing on whether or not they can place a lien. If they have a legitimate debt and a judgment, or an agreement in the loan regarding a lien, they can place the lien on the property or the estate.
mortgage
Mortgage
Mortgage
Mortgage
The deed is filed in the county courthouse. There will be a lien filed against it if there is a loan.
No, you cannot "Transfer" the loan. But you can take out a loan on the other property and use it to pay off the first.
To borrow against inherited property, you can apply for a loan using the property as collateral. The lender will assess the value of the property and your ability to repay the loan. If approved, you can receive funds based on the property's value. It's important to carefully consider the terms of the loan and the potential risks involved.
If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.