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Liens
The right of a creditor to sell collateral property when a debtor defaults on their loan
2,139 Questions
If you have a judgment against you in Pennsylvania can you lose your house?
The forced sale of a primary residence is possible by a judgment creditor. However, this seldom happens as the procedure is lengthy and costly, generally the judgment creditor will place a lien on the property thereby encumbering it so that it cannot be refinanced, have the title transferred or sold until the lien is satisfied. Whether or not a valid lien is possible and/or a forced sale of the property is viable depends largely on how the property is titled.
How do I get paid now that I won the judgment?
how do I get paid now that I won the judgement in a civil court case and the business will not paid
yes, because the majority of judgments and liens attach to the person, not necessarily the land; however the liens do attach to any land owned by the person ==Clarification== Not all jurisdictions recognize priority of recorded judgment liens as to after-acquired property. In Massachusetts recorded federal and state tax liens affect after-acquired property, judgment liens do not.
Are there lawsuits against Somerset Lauderdale lakes Phase II condo association by owners?
Your local county clerk can answer your question, and for a fee, provide you copies of documents filed in any such case.
How to fill out claim of exemption form?
Form 1024 Application for recognition of exemption Go to the IRS gov website and use the search box for Publication 557 (06/2008), Tax-Exempt Status for Your Organization also use the search box for the FORM 1024 choose instructions go to page 1
Submit with the Form 1024 application for a determination letter, a Form 8718, User Fee for Exempt Organization Determination Letter Request, and the user fee called for in the Form 8718. You may obtain Form 8718, and additional forms and publications, through your local IRS office or by calling 1-800-829-3676 (1-800-TAX-FORM).
User fees are subject to change on an annual basis. Therefore, be sure that you use the most
current Form 8718.
Introduction
This chapter contains specific information for certain organizations described in section 501(c), other than those organizations that are described in section 501(c)(3). Section 501(c)(3) organizations are covered in chapter 3 of this publication.
The Table of Contents at the beginning of this publication, as well as the Organization Reference Chart, may help you locate at a glance the type of organization discussed in this chapter.
What does it mean exempt payee on form W9?
The the one receiving payment is a Government, or qualified tax exempt group, like a Church, or Charity.
How does our condo association foreclose and collect the amount they are owed?
Read the governing documents; look in the index under Assessments. Then read about the process for notifying the owner of a delinquency, the owner's right of appeal or petition, and other steps that may be required in advance of foreclosure.
In any case, best practices dictate that you work with an attorney to collect the amounts owed and if unpaid, ultimately foreclose on the unit to satisfy the debt.
Doesn't it have to do with the laws of the state? In Mo the state is Tenants by the Entirety meaning the husband owns 100% and the wife owns 100% interest, therefore the property is judgment proof if only one spouse has the judgment against them. Prperty can be titled TBE if you live in astste that does not have the same laws as Mo. Probably a lien could be placed on her half of the property but not his if there are no Tenant By the Entirety laws or not set up that way. Not sure about this, but it also seems as if debt collection attorneys and judges don't care about what the law says anyhow. I had a judgment go against me from American Express(supposedly) and I took them to the appellate court (wrong venue - should have gone the Fed Court for all their FDA violations- couldn't afford an attorney and did not know what I was doing) judgment was sustained and now I am being hauled back to court to be interrogated for their belief I am hiding property because they couldn't find anything ( might be because I am broke as is my husband and we don't have anything) Was threatened with "possible arrest" if I don't show since I am being accused of fraud now! Scumbag debt collection attorneys - I live in Mo.
Can creditors in Massachusetts force you to sell your home?
A new Homestead Law went into effect in March of 2011. Homeowners receive $125,000 of protection from creditors automatically for their primary residence. A homeowner can also sign and record a formal Declaration of Homestead and receive up to $500,000 of protection. See the related link.
Mortgages are not subject to homestead protection but the homestead exemption makes it difficult for other creditors to seize a primary residence to satisfy a judgment lien for a debt.
A new Homestead Law went into effect in March of 2011. Homeowners receive $125,000 of protection from creditors automatically for their primary residence. A homeowner can also sign and record a formal Declaration of Homestead and receive up to $500,000 of protection. See the related link.
Mortgages are not subject to homestead protection but the homestead exemption makes it difficult for other creditors to seize a primary residence to satisfy a judgment lien for a debt.
A new Homestead Law went into effect in March of 2011. Homeowners receive $125,000 of protection from creditors automatically for their primary residence. A homeowner can also sign and record a formal Declaration of Homestead and receive up to $500,000 of protection. See the related link.
Mortgages are not subject to homestead protection but the homestead exemption makes it difficult for other creditors to seize a primary residence to satisfy a judgment lien for a debt.
A new Homestead Law went into effect in March of 2011. Homeowners receive $125,000 of protection from creditors automatically for their primary residence. A homeowner can also sign and record a formal Declaration of Homestead and receive up to $500,000 of protection. See the related link.
Mortgages are not subject to homestead protection but the homestead exemption makes it difficult for other creditors to seize a primary residence to satisfy a judgment lien for a debt.
Getting out of an association is only possible by selling your unit to a new buyer.
"Feeling like you're being taken advantage of..." is possible if you are new to condominium ownership, or do not fully understand the covenants, conditions, restrictions, regulations or by-laws that govern your association.
Best practices dictate that you educate yourself about the business affairs of the association, read your governing documents, and identify the rights and responsibilities of every owner.
Further, elected board members -- or those appointed by the developer -- also have rights and responsibilities. These are based in state condominium law.
When you fully understand what it means to live in a private democracy known as a condominium association, you can most effectively defend yourself against 'being taken advantage of' by anyone: another owner or board member.
The judgment and the lien may reflect two different debts.
Normally you cannot include a judgment in a bankrupcy or amend the amount to be paid since it is a court ordered payment to be made. You need to pay the court and get a paid receipt for the judgment.
The payment of the lien would be reflected in a release of the lien for that property.
Can you evict a stepmother if the property was given to you by a quitclaim deed through a father?
Maybe, but the law protects the rights of spouses. Your step-mother may have a life estate in the property. You will need to consult a probate attorney and the will to determine what her rights are.
no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it
Is Mississippi a title theory state?
"There are three theories used to define the respective legal interests of parties to a mortgage or deed of trust. They are denominated as "title," "lien," and "intermediate." Under the "title" theory, the mortgagee or the trustee is considered to hold actual title to the real property until the underlying debt is paid. Under the "lien" theory, the mortgagor or borrower retains title to the property subject to the lien of the mortgage or deed of trust, which must be executed upon or foreclosed after default. The "intermediate" theory is a hybrid of the two. It provides that a lien is created against the real property by the mortgage or deed of trust, and that title to the real property transfers to the mortgagee or trustee upon default. In effect, a state adhering to the "intermediate" theory is a "lien" theory state up until the time of default and is a "title" theory state once default occurs. Miss. Code Ann., §89-1-43, is the fundamental authority indicating that Mississippi is an "intermediate" theory state."
See link below for further reading.
Can a condo board evict you even when you pay all your monthly fees?
If you are an owner, unless your governing documents specifically provide for owner eviction, probably not.
However, if you rent your unit, and your tenant does not abide by the governing documents, your board may require that you evict your tenant. This would be the last step that a board would want to take, after sending multiple notices of violation, providing a process for the owner and tenant to be heard in response to the notices of violation, and the application of fines (whatever process your governing documents provide). When all else fails, again, the board may require that you evict your tenant.
What is considered cheap for condo fees?
Condominium associations develop a budget each year to pay the anticipated operating costs of the condominium community in the next year.
If you live in a condominium community with zero amenities, your assessments must at least cover:
- your master insurance policy -- unless the owners are willing to own un-insured real estate assets;
- landscape expenses -- unless there is zero landscape to maintain;
- payments to reserves -- unless the association's owners can pay tens of thousands in special assessments when major replacements must be paid for;
- accounting services -- unless there is no record for assessments that are paid, no one pays the association's bills or prepares its annual tax return;
- basic utilities -- unless all utilities are billed to individual owners and there is no need for electricity, water, sewer or gas in the common areas;
- salaries -- unless there are no employees of the association; or
- preventative maintenance -- unless there is none performed on the building(s),
and so forth.
So 'cheap' will be relative.
Every condominium community is different from every other condominium community. Each is a private democracy that operates, depending on the composition of the board.
Your treasurer can supply you with a copy of the budget -- a portion of which you pay monthly in assessments, based on your percentage of ownership -- and you can work with the treasurer to help reduce your annual assessments by offering ideas about ways to save expenses.
Can a health provider place a lien against monies you might receive from a car accident?
Yes. If your health provider paid your medical expenses resulting from a car accident it has the right to be reimbursed from any settlement you receive from the car insurance company. You should review any documents you received that explain your coverage.
Can a home be sold because of a lien?
Yes, the title company that issues tolved in anything to do with that house & property have beeen pfoaid) the lien against the property will keep a seller from selling it with "Clear title " however the seller could sell it for a lesser amount i.e there is a 5K lien on it so the seller sels it to a person for 5K less than its worth . lenders will not lend on property with claims against title. but a seller financed property could easily have a lien against it.
Answer/ClarificationThe question should be, "Should a property with a tax lien be sold?" The answer is no.
The purpose of a tax lien is to notify the world that the town, state or federal government has an interest in the property for unpaid taxes that must be paid before the property is transferred to a new owner. The liens create a legal interest in the property; a claim that affects the title. The seller is obligated to see that the lien gets paid before the property is transferred to a new owner. The buyer is obligated to see that the lien gets paid from the proceeds they hand over to the seller. Again, the purpose of the lien is to notify the public of the obligation. In the normal course of real estate transfers a seller doesn't reduce the selling price by $5,000 if there's a $5,000 tax lien on the property, he pays the lien off with the $5,000. Besides that, the amount of the lien may have grown.
The first answer is from a victim of the modern misconception that IF I can do it then it's okay to do it. Or, they are involved with the darker side of real estate transactions that rely on the quick "flips" by people who ignore the rules and brought the world economy to its knees. In the case outlined in the first answer, the buyer would be misinformed. While it is technically possible to transfer property with tax liens via a cash sale (there is no local, state or federal police officer monitoring your actions), the buyer would find themselves in trouble. Especially if they tried to sell the property before the liens are paid.
Tax liens grow with interests and costs added. At any legitimate closing the buyer's attorney will contact the lienholder to determine the final payoff amount of the lien, especially with a cash deal. That is the purpose of a title examination performed by a professional. Where there is one tax lien there are usually more and you could be dealing with what we call a "deadbeat" in the industry. Any and all liens will travel with the property and will grow. The buyer of a property with unpaid tax liens may find they owe more than the property is worth. In addition, some government official may come knocking to ask why they turned cash over to a seller whose property was subject to recorded tax liens. The buyer would be left "holding the bag".
What does motion to avoid a lien mean?
It means the debtor believes a lien has no legal effect, usually because the item has no equity or the proper procedures were not followed to perfect the lien. Some liens can be avoided because they would leave less than the exemption the debtor is entitled to.
How soon after a car is repossessed can it be sold to someone else without your consent?
when your car is repossed they will send you a letter in the mail stating how much you back owe I believe that it also states how much the car currently is worth. The letter gives you a chance to re-buy the car however I can't remember if it gives you the amount of time you have to re-buy it. The letter is also to inform you what they can sell the car for alot of times if they sell the car for less than what it is worth they can come after you for the remainder. This could also differ according to the state you live in and according to the agreement you have with the loan company. My car was repossed and I ended up having to pay the back charges. Sometimes they will cut you a deal for that. For me they took half off what I owed and I payed the remainder so that it would no longer be on my credit report. But I waited for them to find me. Pretty much right away .
No, because you have your own separate credit report.
How can they repossess a car if I have moved?
Companies use different types of software and databases to locate someone. It's called skip tracing. They use credit reports, telephone listings, refrences (that you have likely listed on the application), and find family members using the software. It is highly likely that they will locate you (maybe not the car). If they are unable to find the car, they have the option of swearing a warrant for concealment of property for security interest. This is dangerous because you would still have tobe arrested to relase the warrant even if they retrieve the car and plan to drop the charges.
If the realtor sues for the amount owed and wins a judgment then the judgment can be used as a lien against the home even if it is titled in both names.
Whether or not the judgment holder could request a forced sale of the property would be determined by the laws of the state in which the property is located based on the way the title to the property is held. The exception to the necessity for a court judgment to place a property lien would be the filing of a Mechanic's Lien.
Can bankruptcy lawyer have lien removed from car?
If the lien is a purchase money lien (granted to allow you to buy the car), then no. If it is a nonpurchase money lien (you granted a lien on the car to secure an unrelated debt), then yes.
