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A primary lien in a cooperative refers to a legal claim or mortgage placed on a member's shares or the cooperative property itself, which secures the repayment of a loan or obligation. This lien typically takes precedence over other liens, meaning that in the event of a default, the lender has the first right to recover their investment from the proceeds of the sale of the shares or property. It protects the financial interests of lenders and can affect a member's ability to sell or refinance their shares.
What else can I help you with?
Can a lien be put on a co op?
The answer is yes. The lien is typically collateralized by the cooperative shares.
What is one of the primary disadvantages of international cooperative development?
Technology enhancements
What is a second trust deed taken back by owner mean?
That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.
What happens when you file a lien release on car if others have a lien against you?
Your question makes no sense. There is no lien on you but only on your vehicle. You do not file a lien release unless you have a "release of lien" issued by the financial institution which you borrowed money from against that vehicle. If there is a second lien "mechanics lien, tax lien, etc." that lien now becomes primary. Another person cannot take possession and or register the vehicle in their name until any and all liens have been satisfied. 19 years experience in the car biz.
Can a debt collector place a lien on a homestead exempted home?
In most cases a judgment holder can encumber a primary residence with a lien to the extent of the amount of the lien and/or non exempted amount of the property. Generally the homestead exemption protects the property from a forced sale for the debt owed. In addition there are several US states that do not allow the forced sale of a primary residence to satisfy a judgment creditor. Please do not confuse a judgment lien with foreclosure procedures, they are two entirely different matters.
Can you file a second lien against a vehicle you co-signed for when the primary is not paying the note and the bank did not record your name on the title but they are going to repossess the car?
You may be able to in some states, but this will not prevent the vehicle from being recovered. If you attempt to interfere with recovery by the primary lien holder in some states you can be criminally charged.
Do primary agriculture credit societies come under banks?
They come under Cooperative banks and work on village level www.gktoday.in
What are the different kinds of cooperatives?
Housing cooperative Building cooperative Retailers' cooperative Utility cooperative Worker cooperative Business and employment co-operative Social cooperative Consumers' cooperative Agricultural cooperative Cooperative banking (credit unions and cooperative savings banks) Federal or secondary cooperatives
What is the comparative and superlative form of cooperative?
The comparative is more cooperative, and most cooperative is the superlative.
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.
What happens if you have a lien on a property that goes into foreclosure?
If a property with a lien goes into foreclosure, the lien typically remains attached to the property. During the foreclosure process, the lender holding the primary mortgage has priority over other liens, meaning they will be paid first from the proceeds of the sale. If there are remaining funds after satisfying the primary mortgage, the lienholder may receive payment from those proceeds. However, if the foreclosure sale does not cover all debts, lienholders may not recover their full amounts owed.
I cosigned student loans for my daughter she is unable to pay. Can a lien be placed on my home?
Yes. As the co-signer you guaranteed the loans would be paid. You are responsible for paying the loans if the primary borrower defaults. The lender can sue you and if successful it can request a judgment lien that can be recorded in the land records. You cannot sell or refinance your home until the lien is paid.
