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A lien is a term to denote that the vehicles owner owes money on it. This could be to the bank etc. There are also mechanics liens on your car while it's in the shop till you pay the bill of repairs. To pay off a lien you simply pay the debt in full. A lien is a legal maneuver such that the title can't be transferred etc. until the debt is paid. If you don't make your payments then the person or institution holding the lien can exercise it by repossessing the vehicle.
What else can I help you with?
If a credit card placed a lien on your property and you sold it for payoff do you still have to pay the lien?
Yes.
Is there a PO Box address for lien payoff for Capital One?
Yes, Capital One provides a specific PO Box address for lien payoff requests. It's best to check their official website or contact their customer service for the most accurate and up-to-date information regarding the lien payoff process and the correct address to use.
How do you pay the lien amount?
You need to contact the lien holder and ask for the payoff amount. When you hand the payoff over to the lien holder (in the form of a check of which you have retained a copy) you should obtain a valid release that can be recorded in the land records. You may need legal advice on what constitutes a valid release depending on the type of lien.
What is the definition of an IRS Lien?
A tax lien is typically something that is issued by the IRS on people's taxes. The definition of a tax lien is basically is a law used in order to secure property to pay taxes.
How do you get a payoff figure on existing equity loan for sale of real property?
Contact the lien holder. A simple phone call.
Does a junior lien holder have the right to payoff the senior lienholder where junior lien holder foreclosed and has fee simple title?
This depends on the Loan Note or Deed of Trust, but if a borrower fails to pay the first mortgage, generally the second mortgagee can reinstate or payoff the first lien and foreclose. Most mortgage documents contain covenants where the borrower swears to take good care of the property and pay all liens, and where failure to do so constitutes a default of the junior lien holder's note.
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%.
What is the definition of authorized user trade lien?
spulunker.com
Whom do you speak to when paying off your mortgage?
Your lender should have a "Payoff" or "Reconveyance" department that can process your pay off and the removal of the lien from title.
How long does it take to pay a lien?
a lien lasts against real property for 10 years and remains a personal debt against the person for 20 years, in most states. if you wish to pay off a lien, that can be done very quickly. if you wish to pay off a lien, what you must do is request a payoff letter from the cerditor or holder of the lien, then pay that sum to them, and get a satisfaction of lien, or release of lien from the creditor to file with the county clerk as soon as possible
When buying a used boat how do you do a lien search?
If you are trying to see if the current owner still has a payoff on the vehicle, it will say on the title. If it is a free and clear title then the original lien holder has to sign off on the title. Some states have a title and a form called a lien release. What state do you live in?
If you pay someone the money you owe that has placed a lien on your home will it stop the lien?
Yes. Paying what you owe is the first step in removing the lien. You need to take care in handling the payoff. At the same time the creditor should prepare and file a release of the lien that is in proper form for the type of lien in your jurisdiction. The creditor may need to notify the court that the judgment has been satisfied and the court will arrange for a satisfaction of the lien to be recorded in the land records by the local sheriff. Do not hand over the funds until you know how and when the lien will be officially released.
