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Is a mechanics lien voluntary or involuntary?
Involuntary. "a mechanic's lien is an involuntary, statutory, special lien, whereas a mortgage is a voluntary, equitable, special lien." source: http://www.realtown.com/words/lien ---------------------- Your welcome :)
Why would some one put a lien on their own home?
A person might place a lien on their own home if they were misinformed. The lien would be null and void. For a creditor, a lien creates an equitable interest in real property owned by another party. That other party owns the legal interest in the property. If a peron who owns the legal interest in property recorded a lien the two "interests" would "merge" in that same person and the lien would be nullified.
Is Nevada a title theory state or a lien theory state?
Nevada is a lien theory state. In "title theory" states, actual "legal title" to the property temporarily passes to a trustee to secure the debt. The borrower (grantor), retains possession rights and "equitable title" and has full use of the property for the mortgage term. When the loan is paid off, legal title is restored without the necessity of a reconveyance. In "lien theory" states, the lender (mortgagee) places a "lien" on the mortgaged real property while the borrower retains both "equitable" and "legal" title.
When are remedies applied in business law?
Remedies of quasi-contract, constructive trust, equitable lien, and reformation must be applied to redress enrichment secured by tort, part performance of contract, duress, or mistake.
What is the minimum amount to place a lien on someone's home?
First to place a lien you should know how to do the procedure. A lien can be placed on a property for a variety of reasons. If a person is applying for a mortgage or refinancing, he may allow for a lien to be placed on his property to receive the financing. Also, a lien can be placed on property due to unpaid federal and state taxes, unpaid child support, divorce and many other cases in which the debtor does not pay a debt. As with any legal matter, it might be best to consult an attorney, but it's possible to file a lien yourself. (Answer is from http://www.ehow.com/how_4815511_place-lien-property.html) 2nd, the minimum time depends on local laws and regulations. Basically, in the common law a lien also remains on the property and it is not extinguished by alienation of the property; liens may be real or equitable.
Is Illinois a lien or a title theory state?
Indiana is a lien theory state.Indiana is a lien theory state.Indiana is a lien theory state.Indiana is a lien theory state.
Can you have a lien put on someones own home if they owe monies from another job site?
Mechanic's lien- no.Mechanic's lien- no.Mechanic's lien- no.Mechanic's lien- no.
What is the difference between a transfer of lien and release of lien?
A transfer of lien assigns the lien claimant's position in the lien to another party. A release of lien discharges the lien and makes it not appear on a title policy issued for the property.
Can a junior lien supersede a senior lien?
A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.A junior lien can supersede a senior lien only if the senior lienor subordinated their lien in writing and recorded in the land records.
What is an involuntary lien against my property?
An involuntary lien would be a judgment lien by a creditor, a lien for unpaid property taxes or income taxes, a demolition lien, a lien for unpaid common expenses or homeowners association dues or a mechanic's lien. Contrast that with a lien you granted in your property such as a mortgage which would be a voluntary lien.
How do you spell lien?
lien
IS THERE A LIEN ON IT?
is there a lien on this car
