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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 interest be charged once a lien is placed on property?

Yes, depending on the type of lien. Judgment liens accrue interest at a statutory rate. In Massachusetts that rate is 12%.

How do you add interest charges to a real estate lien?

Interest on a judgment lien is set by state statute. If you don't have an attorney perhaps the court that issued the judgment could help you figure out the interest due you on your lien at payoff time. The interest rate in Massachusetts is 12%.

Is there a statute of limitations for the clerk of court to file a lien against an individual for a disillutionment?

I have never been notified of a debt due to the Clerk of Courts, in Cuyahoga County, Oh. for a disillusionment that took place in 2001. I noticed a lien was filed against me for the court costs in 2013. I have never been contacted of such debt. I have filed bankruptcy since, and had a foreclosure and relocated. I am currently on disability for the rest of my life. The prayer amount says $0. Is there not a statute of limitations on filing a lien against me for said debt?

If you default on a mortgage but own other property can that lender take other properties from you?

Yes. The lender will foreclose on the mortgaged property. If you owe more than the property sells for at foreclosure the lender could sue you in civil court and obtain a judgment lien that it could record in the land records. In that case it would affect your other property.

If a condo title is transferred before someone can put a lien on it can the lender come after you?

Your question is unclear as to just which parties are involved: potentially you, a lien and a lender.

Your governing documents define the owner's responsibility to pay monthly assessments, and it usually the non-payment of these assessments that precipitates a lien being filed on the unit by the association. Whomever holds title to the property is responsible for paying assessments.

Your mortgage lender becomes involved when you attempt to release your collateral real estate -- by transferring the title -- without paying off the mortgage, and the lender will probably not allow this title transfer in such a case.

Can I sue a relative who borrowed 9000 to help build a house but has made no payments in 16 months have email documents confirming intention to repay this no interest loan?

It is too much money for small claims; the other kind of suit may cost you nearly that much. Why don't you put a lien on his home? Then, at least you have the right to funds should he ever sell the house.

Is it worth being builders club?

There are for options for you to choose, 1 month, 6 month, 12 month and lifetime, lifetime is worth paying for because you won't loose your membership until they delete the roblox company, so i think yes it is worth it. P.S you get daily robux so you don't have to trade for robux. thanks for reading

How do you open a lien search company in Florida?

Opening a lien Search company in Florida is difficult but not in impossible. There are about 10-15 companies in the whole state. The main players are; Property Debt Research LLC, (PDR founded in 1994 under LL), A-1 Title (1995), Abramowitz (1998), One Step Lien Search (2001), Inc, Skyline Lien, and PSP. You will need to know the many nuances regarding the municipalities, and be well capitalized. You should carry some E&O insurance (a $1 million dollars is standard), and you must keep records for 7 years. It is a very competitive industry and you must be willing to work extermely hard.

The debtor is not the owner of the house can you put a lien on the house you did work?

Yes, you may have a lien against the house where you agreed to do work, did work or delivered materials , notified the other party that you had completed your part, and were not paid for it, regardless of whose house it is. In most places it's called a "mechanic's lien" or "construction lien", and can be easily recorded through the locally specified bureau, but must usually be done ("perfected") within a limited time after being denied payment. Each state law has its own variations of forms, limits, and so forth. You then sue to collect on the lien within a prescribed period.

How do you transfer ownership of a life insurance policy?

You must request a "change of" form from the insurance company that issued the policy. Then, the old owner must assign new ownership, and both the old owner and the new owner must sign the form, mail it to the insurance company. Once received and processed, the insurance company will issue an endorsement to the policy, indicating the change of ownership.

Can my tax lien be placed on my mother's property if I have no ownership and haven't lived there for 10 years?

No, unless your mother has died and you have an interest in her property by inheritance.

No, unless your mother has died and you have an interest in her property by inheritance.

No, unless your mother has died and you have an interest in her property by inheritance.

No, unless your mother has died and you have an interest in her property by inheritance.

Does a lien go off a home after 7 years if not paid?

It depends on your state laws. Check your state laws to see how long a judgment can be enforced and if judgments are "renewable" in your state. My state (Georgia) length of time a judgment (lien) can be enforced is seven years unless the creditor requests a renewal of the judgment by filing in court again. Then they have seven more years to attempt to enforce the judgment.

What is the statute of limitations for unpaid auto loan in new york The repossessed auto many years ago after having in maybe for 2 years or less now they froze my acct and want 26000.00?

According to "NEDAP" (Neighborhood Economic Development Advocacy Project)

the UCC covers this area:

Section 2--725. Statute of Limitations in Contracts for Sale.

(1) An action for breach of any contract for sale must be commenced

within four years after the cause of action has accrued. By the original

agreement the parties may reduce the period of limitation to not less

than one year but may not extend it.

(2) A cause of action accrues when the breach occurs, regardless of

the aggrieved party's lack of knowledge of the breach. A breach of

warranty occurs when tender of delivery is made, except that where a

warranty explicitly extends to future performance of the goods and

discovery of the breach must await the time of such performance the

cause of action accrues when the breach is or should have been

discovered.

(3) Where an action commenced within the time limited by subsection

(1) is so terminated as to leave available a remedy by another action

for the same breach such other action may be commenced after the

expiration of the time limited and within six months after the

termination of the first action unless the termination resulted from

voluntary discontinuance or from dismissal for failure or neglect to

prosecute.

(4) This section does not alter the law on tolling of the statute of

limitations nor does it apply to causes of action which have accrued

before this Act becomes effective.

Can a borrower have a lien?

Not sure what is being asked. Unless you have a "signature" loan, you probably have some kind of security or collateral at risk. Whether it takes the form of a lien or not, depends on whether you pay off the loan, or the lender has to go to court to legally attach your property (a lien).

What can collection agencies seize?

State laws determine the property that can be excempt from a judgment creditor. Generally it will be the same property which is considered exempt during bankruptcy with a few exceptions. The major exception would be the homestead exemption amount and/or the ability for a judgment creditor to force the sale of a primary residence. Another issue that could impact the judgment execution against any property is whether the debt applies to married couples who are not co-debtors and do not live in a community property state.

The majority of judgment creditors prefer the use of wage garnishment when executing the judgment writ. In lieu of that the second choice is usually bank account levy.

What if your mother quit claimed your home back to you recently and you have a fed IRS lien against you can the IRS seize this property you live in Arkansas?

An IRS Lien attaches to all property that you own, and it also attaches to "after-acquired" property (property that you acquired after the filing of the lien).

Even though the house was quit-claimed to you after the filing of the lien, the lien has now properly attached to it. This means that the IRS could, technically, seize the home. It should be noted that if this house is your primary residence, the IRS cannot seize a primary residence without the order of the courts (which almost never happens).

If you are in contact with the IRS and make a plan for resolution of the debt, the IRS will generally not seize property. The only time that IRS seizes real estate these days is in cases of blatant evasion or fraud. Your best course is to get in contact with them and work with them to take care of the taxes.

Can a lien be placed on a living trust when the known beneficiary owes back child support?

No, most states do not allow liens on anything for back child support owed. Most state only allow garnishment of wages and garnishment of state and federal income tax refunds.

If there are three people who own a property and one of them owes back child support can a lien be filed against the property?

Yes. The lien can be recorded against the interest of the debtor. The property cannot be mortgaged or sold until the lien has been satisfied.

How long does it take to foreclose a hoa lien in Florida?

Your question assumes that a lien will automatically graduate to a foreclosure action, which is an invalid assumption.

If the association has filed a lien on your title, and the lien is based on past-due assessments, the HOA may decide -- the past-due amounts are or become large enough -- to sell your home to satisfy your debt.

The two actions may follow the same process if they involve past-due assessments, so in that sense the two actions are related. But one does not automatically trigger the other.

Best practices dictate that you work with your board to pay your past-due assessments, so that you will not lose your home to foreclosure by the HOA.

Do i have to pay homeowners assoication fee?

Yes. If you purchased property that was subject to a recorded Homeowner's Association Declaration of Restrictions and Covenants then you must pay the fees. The rules are in the declaration and you can review them at the local land records office.

What does the legal term partial release mean?

A partial release is a release of part of a creditor's claim on a property especially used when a blanket mortgage covers several lots or parcels and the lender partially releases each lot from the mortgage as it is sold. It is used in several other ways in real property law.

A town may have an Agricultural or Forest Tax Lien on a large tract and will partially release smaller portions that are sold from the base tract. A Conservation Commission may impose a Wetlands Order of Conditions on a new subdivision and will partially release each lot as it comes into compliance and is sold by the developer. A creditor with a judgment lien that covers several properties may partially release a property so that it can be sold with the proceeds paid over to the creditor to partially satisfy the lien.

Will an unenforced judgment show up when trying to buy a home?

A judgment granted by a court will appear on a credit report whether it has been excecuted or not. A few judgments have SOL's many can be renewed indefinitely.

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