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Liens
The right of a creditor to sell collateral property when a debtor defaults on their loan
2,139 Questions
Any debts incurred by a person before marriage belong to them entirely, and will not affect the other spouse.
What is the Difference between a Junior Mortgage and a second mortgage?
The difference is really all in how the loans were originated. A junior mortgage refers to the lien placement on the property title. A second mortgage means a mortgagor has more than one loan on a property with the same lender.
For example, If I purchase a home (assuming the title is clean and there are no liens on the title) and get the loan with ABC Bank then ABC Bank is considered the senior mortgage. If I obtain another loan with ABC Bank most commonly a HELOC or Home Equity Line of Credit then it is a second mortgage in second position. Let's say that after I obtained the second loan with ABC Bank, I chose to take out a smaller loan against the property with XYZ Bank. That loan will be considered a junior lien.
The loans won't always fall that clean on the title however. You can have a junior lien between a senior lien and second mortgage. In the example above if the XYZ Bank loan was taken out before the second mortgage with ABC Bank then it would still be called a junior lien and the second mortgage with ABC Bank would be the second mortgage with ABC Bank but in third position.
Hope that helps!
How do you put a lien on a home in New York Kings County?
Either hire a lawyer who is a member of the New York state bar association to do it for you, or go in person to the county court in that county, and speak to the clerk of the court for advice on how to lodge a lien on the property.
Be sure to take ALL the documents that support your case, and be prepared to pay a fee and go before a Judge to swear your evidence in the case is true/ correct. If you succed, a lien will be placed on the deed in the county records , and the property cannot be sold until it is paid off in full.
What does it mean to put a lien on someone's condo?
A lien is a legal instrument which prevents the property it is attached to from being transferred, sold, refinanced, and so forth by the owners until the debt pertaining to the judgment lien is paid in full or satisfied.
A "perfected lien" against real property becomes a secured debt and in some states under specific conditions it allows the lien holder to petition the court for the forced sale of the named property.
Another Answer
When a lien is filed on a condominium, the lien is based on a standing agreement between the owner and the association that the owner will pay monies to the association which have not been paid. There is no 'judgement' involved.
You can find the details of this agreement in the association's governing documents.
Once a lien is filed, it not only clouds title to the property, as above, but can appear on the owner's credit report.
Can a lien be put on your home when you are on disability?
Yes. Your creditor can seek a judgment lien in court.
Where can you find out if a property has any liens or judgments?
"Hire a title search attorney. They assume the liability."
Does a person have to own property free and clear in order to do owner financing?
For the most part it varies from state to state, but the majority say No
Yes, as long as the buyer is willing to accept title subject to the lien, in other words, pay it off to clear the title, or accept the risk that nobody else will ever want to buy it with the lien.
Many people buy properties with liens, fully expecting to pay off the liens as part of the "price" of ownership, and the compensation to the seller is adjusted accordingly.
For example, I offered to buy a property in foreclosure and pay off the lien for timber taxes as part of the "deal." Buyer pays off the notes, seller pays off the tax liens, obtains clear title and an extra tax deduction.
I am not sure where you are located, but here in Florida we have a "Homestead Exemption" where you can reduce your property's appraisal by $25,000.00 thus saving on your property taxes. You can find out more information at your local tax collector or property appraisers office.
In WA state and I suspect in similar statse you can contact your local county assesor via telephone or online and request an application to have your taxes either deffered or forgiven depending on your financial status and ability to repay the debt. These programs are designed primarily for the disabled or elderly age 61 or better. Typically you're given 30 days to fill in and have this application reviewed however in extreame cases the application may turned in within the 30 day time frame.
How long does it take to get a judgment?
Once the paper is filed the judgment begins soon after
By obtaining what's known as "revivor" of a judgment in a timely manner, you may be able to keep a small claims judgment alive indefinitely.
Added: In my experience MOST cases were decided immediately while both parties were in court, only very occasionally was a case continued for the judge/magistrate to perform some type of further inquiry into the circumstances before ruling.
On the other hand, if you are asking how long it takes to COLLECT the judgment, that depends on the circumstances of each individual case.
If you took out a loan from the bank to buy your car, they have a lien on it. For all intents and purposes, they own the car until you have it paid off.
You need to speak to a lawyer (attorney) about this, the lien needs to be removed or you will have trouble selling the property in future. You will need to prove when you purchased the property and that you payed for it in full (or with a mortgage).
Please review your lien documents and notifications.
Often, release of the lien is your responsibility. A Release of Lien is made available to the debtor by the association's attorney, and the debtor takes the Release to the local courthouse and pays for the lien to be released.
Your association's board or association manager can help you determine who's responsible in your particular situation.
A lien can only be placed against property after a lawsuit is filed and won. The plaintiff receives a judgment which in some cases can be used to place a lien against real property. Small claims court is the place to pursue legal remedy for smaller monetary only, disputes. A small claims case usually costs $25 or less to file.
No, once the judgment is granted, it applies to you, not your county. All they need is your new address. * Perhaps. If the judgment holder wants to enforce the judgment in a method other than filing an abstract judgment against the debtor's real property then the creditor will have to file a suit in the county where the debtor resides. Judgments granted in one county or state can only be transferred to another county or state as liens against real property owned by the debtor.
Can a property lien be placed on jointly owned property in PA?
Yes, but it will only affect the half interest of the co-owner named in the judgment.
How is real property divided when one of the signers or owners dies?
Depends on the state law, of the state the property is located. Typically, if there is no will, or a will with no dictation of the property, then the property goes to the co-owners by default. Same with bank accounts. * The wording of the titling of real property always determines how said property can be partitioned, sold or transferred.
Is it possible to put a lien on someone's house or property after thirty years?
I doubt it. The longest statute of limitations is usually ten years and most credit related items run out after a half dozen years or less, in some states as few as two years. If the lien is related to a mortgage, the date is based on the mortgage dates.
Do material and labor supplier lien waivers need to be notarized in Illinois?
It depends, typically in Illinois, material lien waivers do not need to be notarized, however contractor lien waivers (where labor was performed) will require a notary.
No... as long as your mother is alive, she can change as often as she likes her will. Only your mother is responsible for the things she is doing. If she passes away one day... hopefully she will have a long life lol... the legacy must be divided between all the children.
How do you find the lien holder or owner of an abandoned car in California?
IF the car is on YOUR property, you should be able to get the info. IF not, then it is the cities problem. Call the city and ask to have it removed. You might find a friendly cop or wrecker co. who will help you if you have a legitamate interest in the car. Good Luck
The public agency must dispose of the vehicle:Whenever a peace officer, or any designated employee of a public agency authorized by CVC §22669, removes or causes the removal of an abandoned vehicle and the public agency, or if at the request of the public agency, the lienholder determines the estimated value of the vehicle to be $500 or less.autolienservice.comThe property can be transferred to your name but it will still be subject to the lien. You should consult with an attorney who can review the situation and explain your rights and options.
The property can be transferred to your name but it will still be subject to the lien. You should consult with an attorney who can review the situation and explain your rights and options.
The property can be transferred to your name but it will still be subject to the lien. You should consult with an attorney who can review the situation and explain your rights and options.
The property can be transferred to your name but it will still be subject to the lien. You should consult with an attorney who can review the situation and explain your rights and options.
You may be thinking of adverse possession. The time limit is different in different states. You can check your state at the link provided below. You should also consult with an attorney who can review the situation and explain your options under your state laws.
How do you remove a UCC Lien that was erroneously put on?
To remove a UCC Lien that was erroneously put on, just fill up Statement of Claim form or UCC5, checking box 2b for wrongly filed record. Give the reasons why you think it was wrongly filed.
