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Liens

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

2,139 Questions

Can a lien on a home for unpaid personal loan be filed without notice of property owner?

When you say "property owner," I assume you mean real property, and further assume this issue arises in the USA.

Because the state law implicated in your question is not identified and there are not enough facts laid out, let me ask you this:

1. was there a written loan agreement?
No
2. has a lien been obtained against you, or do you fear that one will be gotten against you if you make a loan and default?
No
3. what state is this in?

N.J.

If you write a check and did not know that there were NSF and it is cashed at a check cashing place without verification is the check cashing place a holder in due course?

Yes.

Please understand it is irrelevant whether the check was verified by the check cashing place or not. Although it may be a risk management best practice, check cashing services (including banks) are simply not able to immediately verify funds every check that they cash. The determination of whether to cash the check is a complex matrix that the cashier or teller as well as the system they are using are well trained to apply.

If you write a check, you are making a contract saying, "I have X dollars in my account numbered 1234567890 at Drawee Bank and I want Drawee Bank to withdraw that money and give it to Payee." You must have already verified that X dollars are available to be given to Payee. If they are not, youmust find some other way to give Payee the money you have legally agreed to give him.

The check cashing place is owed money from the Payee because it is really the Payee's problem to track you down and receive reparations from your bad check. It cannot be the check cashing place's problem. They should seek the funds that they gave to the Payee expecting (as they should) that your check would be honored, before they discovered that it was not. You will need to make the appropriate arrangements to repair any damages this has caused to Payee, including the original amount you agreed to pay him.

If a property is willed to someone do they inguire the liens on the property?

If the property is subject to active liens, generally the devisee will acquire the property subject to those liens.

If your father paid for your house but it is deeded in your name can he put a lien on the house now to get his money back?

That depends on what other contractual arangements might have been made. The deed does prove ownership. However, in some states if you had a verbal agreement for repayment and your father can prove it, he can collect his money. And obviously if you have any agreement in writing concerning the property, he can indeed place a lien on it.

A lien can be put on a home voluntarily as in a mortgage or trust deed, or involuntarily, as from a lawsuit or mechanics lien.

If your father wants to put a lien on your house he must get a legal judgment from a court to do so. He may be able to put a preliminary notice of a lien pending prior to winning a judgment, but he will have to file a suit in most places to do so. In the application for a preliminary lien, he will have to show evidence that there is a good chance he will prevail in the lawsuit. Otherwise he must sue, win his case,get his judgment and THEN he can file the lien and try to collect on it. If you file a homestead he may not be able to collect it.

Most states require all deals regarding real estate titles to be in writing. This is called the statute of frauds. (because many frauds can be done if they are not in writing)

So he best have a writing to show you bought the house, or else he will not win the suit. If it was a gift, then it is yours to keep and he cannot get it back. So he cannot have it both ways.

But if he just used your name to buy it so you could hold it for him in trust, and he can prove it, then you may lose and he will get his title from you. or his money. A lot will depend on the facts and of course what evidence can be brought to prove the facts. You should get an attorney to defend you as this is very complicated.

What forms do you file with the courts in Illinois to collect money owed to you by someone who is going to get a settlement from workman's compensation where do you get these forms to do it yourself?

The fact that he is receiving a settlement does not mean you are entitled to anything, even if he does actually owe money to you. The debt to you is a completely separate matter and the court will not "blend" your debt into the settlement. To collect a debt owed to you, you will need to pursue the remedy listed in the signed forms that prove this person borrowed money from you (contract, promissory note, etc.).

Is South Carolina a lien theory state?

Yes. http://title.grabois.com/index.html

Can you put a lien on someone motorcycle if they owe you money?

Who has the title to this motorcycle? If they do then you'll have a tough time getting your money or your bike. Contact a lawyer - you might need one.

How Use lien in a sentence?

We had to pay the lien before over due.

Can collection agencys put a lien on property for unseccured debt?

Yes, collection agencies can do this.

However, first they need to sue the borrowers and obtain a judgment from the court against the general assets of the defendants. Usually, a judgment will become a lien on any real estate property the borrowers own.

If the collection agency does not go to court to sue for a judgment, however, it can not place a lien on a home. And not all states or counties may allow judgments to be attached as liens, although many do allow this process.

If you default on a personal loan what personal property can be taken from you by the loan company?

Personal loan is Unsecured loan, that's Why none of the personal property taken by bank. Its happen only in Secured Loan.

Answer & Clarification

The lender can take you to court and obtain a judgment lien. Once they have the judgment lien they can take anything you have to satisfy the lien: your car; bank account; home; any real or personal property you own. Some creditors are very persistent and the debt grows very fast with interest and costs. Debt collectors can make your life miserable.

What should you do if a tax lien is filed against you without you being informed in New York?

Unless there are exceptional circumstances, like you were in a comma for several years, your lack of knowledge of it is not a defense of any type. The process for these being made and filed is standardized and follows methods that are generally accepted as having been giving notice...things like attempts at mailing to your last known address, publication, etc.

However, that does not mean all is lost. If the basis for the judgment is truly faulty and you can prove it, you may (but not always - as failing to respond to their original notices in a timely fashion may make their claim irreversable), be able to have the State drop it. Otherwise, paying it (or settling it) with them is your only real alternative to having it satisfied.

Simply, contact the State Dept. of Tax, at any of their phone numbers or branches, to see what caused it and options you may have.A number for the Assesment Division is: 1-800-835-3554

Can the grantor put a lien on a property if it was transferred via quit claim?

If the owner executed a quitclaim deed he/she is no longer the owner. It is unknown by your question what grounds the former owner would have you have for placing a lien. Unless you were granted a mortgage interest by the grantee you would need a court judgment to obtain a lien.

What happens if a condo association places a lien on your property for a fine that you believe is unfair and do not wish to pay?

In your governing documents, including board meeting minutes, you can find the violations list, the fine schedule and the process the board must follow when you violate the 'rules' (which you agreed to abide by when you purchased your unit).

If you believe that you did not violate the rule, you can appeal the board's decision through their published appeal process.


If you were notified of a fine as part of the violation, again, you can appeal the board's decision.


If you ignored the notice of violation, the notice of fine and did not attend to the board's demands for cure, they may have placed a lien on your property.


If you waited until a lien was filed against your title to respond to the board, you may need the advice of a condominium-savvy attorney to help you defend your position.


Condominium fines and assessments usually represent an automatic priority lien on your title. Your board can pursue whatever payment options are listed in order to collect the debt you owe.

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.

Can attorney put a lien on Chapter 7 home?

It depends what the court will allow in the processing of a Chapter 7.

Do liens against your property have to be recorded?

Yes. If a creditor wants to encumber your real estate they must record the lien in the land records.

There is an exception made for towns to record property tax liens after a property has been sold and transferred to a new owner. In most jurisdictions, a town can record a lien for several months or years after you have transferred the property. That is one reason to have an attorney represent you, as a buyer, when you purchase property. They know what needs to be checked to make certain you don't get any surprises in the form of tax liens from the prior owner.

Why is it a good idea to remove the lien from a car title?

Because you will be required to have it released if and when you sell the car.

Because you will be required to have it released if and when you sell the car.

Because you will be required to have it released if and when you sell the car.

Because you will be required to have it released if and when you sell the car.

Should a board member of a condo association sign an indemnity agreement?

This answer depends totally upon your unique situation.

Best practices indicate that you work with your association's attorney to decide how to proceed.

How much do you need to owe the state of california before they place a lien on your property?

The state can record a lien against your property for any amount you owe.

The state can record a lien against your property for any amount you owe.

The state can record a lien against your property for any amount you owe.

The state can record a lien against your property for any amount you owe.

What is worth of LIFA qualification by International Research Association and what is its authenticity?

I believe it to be a scam and fraudulent. They have been completely rude and unprofessional to me since I signed up for the exam in July 2007. The website refers to a study guide of 1100+ pages (which it did in July 2007 as well). As of January 2008, they still do not have the guide available. I questioned it in an email in mid September 2007 and was told it would be available by the end of the month. Since then, my emails have been replied to with rudeness and sarcasm. I asked for a refund since they haven't been able to provide the material for the last six months and received the following (I'll try for the exact wording... but in any case this is close):

"You're an analyst. Quick, name an industry that hasn't experienced unfortunate delays."

I was also told that although the material wasn't available, I should find another was to study for it. Basically, I wouldn't do business them again and am doing my best to let everyone know. By the way, this isn't an isolated incident. A friend of mine also applied for the exam around the same time and has been treated just about the same way. I would avoid doing business with them and save yourself some trouble. Look to the CFA designation if you want something reputable.

I had the opposite experience. The International Research Association is a very professional organization. The study materials are comprehensive and I downloaded them with no problem. The board of Directors is comprised of industry professionals including MBAs, PhDs, university professors and many CFA charter holders. LIFA is becoming more recognized every day. It is listed as a designation on various publications and resources that ask what professional designations are held. Thomson Prometric is a professional testing organization used by many industries, including financial services, for independent, supervised testing purposes. Exams are time limited and no outside materials are allowed in the room. You cannot even take your watch and keys into the room. A locker is provided to hold personal items. I think the LIFA charter is definitely worth earning and is a lower cost alternative to CFA. True, it is not as recognized as CFA but that is changing. CFA started the same way.

Do you have to pay for the balance owe on your car after it is sold at an auction?

WHOM do YOU think should pay?? The govt.?? Of course you have to pay the balance due after the vehicle is sold. That was the point to having you sign a CONTRACT saying you would. Now I am just speculating here, so be patient. It is my understanding that a car loan is a secured loan. That is the car is the collateral in the loan. This is different than a credit card debt if I am correct. It is also my understanding that when you default on a car loan they, the lien holder, take possession of the vehicle. Now once again I am not a lawyer. If the collateral is taken away and is sold for less than money owed by the lien holder...well is anyone following me here. When credit card companies hound you for the balance owed you were able to keep the money, items whatever...it is a unsecured loan. A secured loan is balanced by interest, usually lower due to it is secured and the collateral of the vehicle. To me this is loan sharking. IF the collateral is not sufficient to hold the loan than the lendor should not be able to make the loan, because the lendee has no course of action if the need arise. I could be way off base here and I probably am. But pay attention here people because if this is not right than there is a problem with our system. JUSTTHINKING I am in a similar situation. I leased a car in 2001 and it was a piece of crap. I did not have the car long before I started having problems with it. The transmission went out and everything else was wrong with it. I told the car company to pick up their vehicle because I could not deal with all of the repairs. They gladly took it and kept my downpayment and all of the payments that I had made. Later on they sent me a letter notifying me that the car was going to be sold in an auction. To this day in 2005 they took it to court and sewed me for $10,000. They garnished my checking account. My attorney said that I had to file bankrupcy or else they will keep on hounding me and will be on my record for 10 years. I need to file now because the bankrupcy law is going to change drastically on October 16, 2005. So if you need to file do it now. This is just my opinion an what I was advised on by ny attorney

Can you file a lien against a property if you have a judgment against the owner for nonpayment of nanny service?

Yes. Ask the court how to have the lien recorded in the land records. The owner will not be able to sell or mortgage their house until the lien is paid. You should arrange to have the lien recorded ASAP.

How do you recover money owed if there was no signed agreement?

A verbal contract is legally binding. You can pursue the matter through civil court and sue them for the amount of the loan, but you have the burden of proof. Proof can be a witness to the loan, someone who has overheard the lendee say they owe the money, evidence opf partial payments, a clear timeline...it's touhg to prove a verbal contract case. If you gave them cash it'll be even harder. As they ssaying goes, never lend money you don't ever expect to see again. * Without documented proof such as a contract or promissory note, the lender will need to file any suit in a small claims venue.

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