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Liens

The right of a creditor to sell collateral property when a debtor defaults on their loan

2,139 Questions

What happens to your lien against a debtor who does not own the property but has life use?

Unfortunately for a creditor, a life use of real property is not an attachable interest as would be a fee interest in the same property. When the debtor dies the life interest is extinguished.

The creditor should try to find out if the debtor has other personal property that could be seized to satisfy the judgment. You should inquire at the court that issued the lien about scheduling a hearing to establish what assets the debtor might own. Perhaps their car could be taken by the sheriff and sold.

How do you sell motorhome with a loan balance?

You must pay the loan balance out of the proceeds at the time of the sale.

You must pay the loan balance out of the proceeds at the time of the sale.

You must pay the loan balance out of the proceeds at the time of the sale.

You must pay the loan balance out of the proceeds at the time of the sale.

Can the HOA put a lien on an irrevocable trust property?

It is unlikely that an irrevocable trust gives the property any immunity from liens.

Answer

Yes. If the property is owned by an irrevocable trust the HOA can place a lien against the property and the trust. The HOA should research the trust so that the present trustees can be mentioned on the lien. Although debts are sometimes difficult to collect from a trust, the property cannot be sold or mortgaged unless the lien is paid.

Can an employee place a lien on an employers vehicle for back wages if the vehicle is used for work?

Ask a lawyer. You probably have to sue first and if you win then you can place a lien of the company's assets.

How long is a mechanic's lien good in North Dakota?

Until you pay it off.

If you try to sell the vehicle, the mechanics lien will prevent you from doing so.

In Minnesota does a mechanics lien supersede a first lien holder?

A first lien holder is usually the lender or mortgage holder. Mechanics or Construction Liens do not supercede any lien placed before them or mortgage recorded after the lien is filed. In Minnesota mechanics liens are only enforceable for one year after the last day of service. Any lien holder, regardless of where they are in priority, can file to enforce their lien at anytime during that one year period.

How do you fight unlawful tax lien?

First off, make sure the judgement for the lien is signed by the judge.

Is wife responsible for husband's car liens?

If you want to keep the car.

It depends on the state of residence. In community property states both parties are responsible for all debts incurred during the marriage. In non CP states the person(s) who made the loan agreement that created the liens are responsible for the debt.

Can a 2nd mortgage put a lien on your house for only being a month behind on payment?

A second mortgage is secured by the home, which means they put a lien on the property as part of obtaining the loan. They recorded the lien before funding your loan. This is what gives them the right to take action against the property if you fail to pay. A lender may foreclose on a property when there is a default in the terms at any time, as long as they follow federal and state laws. No lender wants to own your home, so this generally takes 3 months of missed payments or some other serious violation of the terms (unpaid property taxes etc) but they can begin immediately. This is frowned upon by regulatory bodies, the courts and general business sense but it is possible. Don't ignore any contact attempts by your lender. Work with them to understand your situation and to create a plan to solve the issues at hand.

Can you put a lien on property you own that someone stole?

sure...however the validity of the lien may come into question...or you can file an action in supreme court to overturn a conveyance or to assert fraudulent conveyance

Clarification

You cannot place a lien on anything by your own authority. You must obtain a judgment lien through a court process. That is not the way to regain property that someone took from you. You must sue the thief and the court will render a decision. If the decision is in your favor and the property is real property the court will restore the property to you. It will not issue a judgment lien unless the property is personal property and cannot be returned. In that case, you can record the judgment lien against the defendant and it will affect any real property owned by the defendant.

Can the third party vendor put a lien on the home owners property when his agreement was with a contractor who was already paid by a home owner but did not pay the vendor?

Generally no but it may be possible under state law in some jurisdictions. You should try contacting your secretary of state's office or a local consumer agency. If that doesn't work out try calling the attorney who represented you at your closing.

Can you enforce technical bankruptcy?

Yes. It is possible to get together with other creditors and file an involuntary petition on a debtor. You must meet the applicable criteria set forth in the Bankruptcy Code, Title 11, United States Code, section 101 et seq., and the rules promulgated thereunder.

Can a credit card company put a lien on a car your making payments on?

If you fail to make payments on your credit card, the company could sue you, take a judgment against you, and possiblyseize your car and sell it at auction. However, the credit card company would have to pay off the car loan in order to clear the title. That would not be worthwhile for them to do unless the car was worth significantly more that the unpaid car loan balance.

It is also possible that the credit card company could not seize and sell your var because most states provide certain exemptions from execution on judgments. These exemptions vary widely from state to state.

If you do not owe any state taxes do you need to file state taxes?

If your state has income tax (some don't like TX, FL, NV) and you've earned over certain amount of income (depending on the state), you have to file your state tax.

Home Owners Association becoming a corporation?

Depending on the current legal status of the association, becoming a corporation requires a legal step in the state where the association does business.

Your attorney can help you understand the particular pros and cons of making this change to the association's legal status.

How long is a judgment lien valid against a home in New York?

Without knowing the facts in your case I will post a Statute from New York dealing with a Levy on Real Property. Insofar as I can tell, and without knowing your situation here is a New York statute that may answer your question:

§ 5235. Levy upon real property. After the expiration of ten years
after the filing of the judgment-roll, the sheriff shall levy upon any
interest of the judgment debtor in real property, pursuant to an
execution other than one issued upon a judgment for any part of a
mortgage debt upon the property, by filing with the clerk of the county
in which the property is located a notice of levy describing the
judgment, the execution and the property. The clerk shall record and
index the notice against the name of the judgment debtor, or against the
property, in the same books, and in the same manner as a notice of the
pendency of an action.

Here is a link to this Statute: http://caselaw.lp.findlaw.com/nycodes/SLCVP0A52.html

I need more facts. If you supply them perhaps I can be more definitive. Just send me an e-mail at lawinfo31@yahoo.com.

What is an attorney's lien?

An attorney's lien is the right of an attorney to retain a client's papers until the attorney's fees have been paid.

Can a third party buy a tax lien at a auction. and can the home owner still keep his home?

Yes, in theory. A lien is recorded assertion of an unpaid debt, so a town could sell its lien to a collection agency (if laws permit) and that agency could then foreclose on the lien by obtaining a court judgment on the debt.

However, many states frown on this and make it much easier for the town to simply auction the property itself to the public, take the proceeds in satisfaction of the debt, remove the lien, and let the new owner evict the taxpayer (or rent to the taxpayer, if preferred). A third party might have a harder time of getting the lien foreclosed.

Should you write and send a letter of intent to lien directly to person who owes you money?

That depends on your states requirements for its lien process. Generally speaking you normally send them a "Notice of Intent to Lien" by some form of 3rd party delivery (registered mail, courier, etc); and it goes to all interested parties. To translate if you are putting the lien on real property (a house for instance) you must contact everyone with interest in the property (mortgage companies, owners, co-signers, etc.).

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