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Liens

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

2,139 Questions

Your niece has abandoned a car at your mother's house what can you legally do with it?

You can call her to come pick it up in a certain amount of time or you will have it towed away. Towing a car (even if it's family) that is parked there without permission can be legally towed.

How do you stop false back child support collections?

You, personally, will need to visit the Child Unit of your local court system and fill out the necessary paperwork to plea for these collections to stop. A court date will be set and you will need to show proof positive that you are not behind in your payments, that you have made every payment (so far) on time and for the correct amount.

Here's the deal though: even though the child may have attained the age of 18, the payments do not stop automatically - the defendant must petition the courts to have it stopped. Those payments will not stop by themselves unless you become proactive about it ... that's the way the courts work.

When a judgment is executed is it an 'automatic' lien on the debtor's property?

A judgment in most cases (except for small claims) can be executed as a lien against real property. It is not "automatic" the judgment creditor must file the judgment as a lien against property solely owned by the debtor or if the portion that is owned by the debtor when the property is jointly held. Judgment creditor liens cannot be placed against marital property held as Tenancy By The Entirety where only one spouse is the debtor.

Do creditors have the right to refuse monthly payments on a balance due on a repossessed car?

READ your contract. It should deal with that issue. If you meet the conditions set forth by the contract, YES, they can refuse.

How can a lien be cleared that was put on property in error by a company that has gone out of business?

By sending proof of the error to the lien holder (cancelled checks and bank/loan statements) and sending proof of the company no longer being in business.- most likely the business has/had an attorney I would start there.

If there is a large amount of money involved you may need to hire an attorney to clear it.

What does Mutual reward theory state?

relationships are strengthened when the persons involve help or reinforce one another.

When a person dies and you are a beneficiary of their estate what amount can you receive before you have to pay taxes?

THE AMOUNT "EXEMPT FROM INHERITANCE TAXES" VARIES FROM STATE TO STATE. CHECK OUT FINDLAW.COM AND LOOK FOR PROBATE CODES FOR YOUR PARTICULAR STATE. REMEMBER, THOUGH, ALTHOUGH THE PROPERTY OR MONIES INHERITED ARE STILL SUBJECT TO "INCOME" TAXES....THIS IS IMPORTANT. IF YOU FAIL TO FILE INCOME TAXES ON THE INHERITANCE, THE PENALTIES ARE EXCRUCIATINGLY PAINFUL, BOTH AT THE STATE AND FEDERAL LEVELS.

TN homestead exemption?

The TN homestead exemption stand for the Tennessee homestead exemption. The Tennessee homestead exemption protects some of the home equity when bankruptcy is being filed.

Who should you contact if you purchased a motorcycle from a friend who signed the title and had it notarized but there is a lien on the bike when you went to do the transfer?

The friend is obligated to clear the title before attempting to sell it. A lien is a legal document that protects the lender. The lien is a notice of interest in a piece of property and gives notice of partial ownership. The banks interest in the property cannot be set aside until the note is paid. If the note is never paid the property can be taken by the bank in a process called reposession. If you or your friend do not pay for the loan on the motorcycle, the bank can take it back from you.

What percentage of the proceeds is due to the wife when a property is sold?

If the property is owned jointly, the wife is entitled to 50% of the proceeds.

If the property is owned jointly, the wife is entitled to 50% of the proceeds.

If the property is owned jointly, the wife is entitled to 50% of the proceeds.

If the property is owned jointly, the wife is entitled to 50% of the proceeds.

Can you become a lien holder on a property if you pay their back taxes?

No, not without their written, recorded agreement.Otherwise you are simply a volunteer having paid the taxes.

Can I amend a mechanics lien in Texas after 6 years?

There is probably a form required that needs to be filed, depending on your purpose. There are specific requirements, including deadlines for notice, to maintain the validity of a lien. You may need to obtain legal advice on following the Texas Property code.

If a company files for bankruptcy can they enforce a lien they put against you?

Of course. Their bankruptcy does not change YOUR obligation to them! (One reason they may be bankrupt is because they aren't getting paid what they are owed).

In fact, the bankruptcy court becomes involved in assuring all assets and everything that can be used to pay the creditors of the bankrupt is found and used. The court may well take action against you to make sure it is collected.

Can a lien holder charge interest on forced placed insurance?

Yes they can. If the lien holder had to advance the premium to pay for the insurance, the amount is added to your finance note with the interest.

Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder.

Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract.

The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.

What if you worked off the books Is it okey to put on the resume as if you were paid?

No, not as if you were paid. But then I have never seen a resume where each job was listed as paid. Put down whatever gave you experience. Remember a job is a life experience regardless if you were legally paid or not.

What is builder notation?

Did you mean set builder notation? It's written like this.

Example: Even number greater than 2 but less than 0.

Set A= {x|x is an even number greater than two but less than 20}

I hate Math. I really do. >:|

Does a judgment lien against a property have interest?

Yes. Interest continues to accrue until the judgment is paid. That causes the debt to grow. In Massachusetts that interest rate is 12%.

How do you find the lien holder code for an out of state credit union?

Ask your bank

OR

The credit reporting service you use

OR

The person that holds the item that has the lien on it

OR

If you know the name, call them.

What if you don't own any property or have a job what can the IRS place a lien on?

An IRS lien attaches to ALL property, real and personal. This means that it attaches to the shoes you are wearing, your cool sunglasses, everything. That doesn't mean that the IRS is going to come take those things. If you don't have a job the IRS can place you in Currently Not Collectible status, meaning that they know that you do not have the ability to make payments. Once you are in this status, they will leave you alone until your financial condition improves.

How do you assess a lien on property in a property owners association?

Read your governing documents, and determine what action must be taken before a lien is filed.

When you're ready to file a lien, work with your association-savvy attorney to accomplish this task.

How do you get an invalid lien removed?

You should first contact the person or entity who filed the lien and request that they release it. If that it is not successful, the exact procedure would depend on the law of the state that is involved. Typically, you would file a case in court called a "Petition to Quiet Title" or something like that. You may also have a claim for damages for slander of title under some circumstances. If it cannot be resolved informally, this is probably something that would be best done with the assistance of a lawyer.