Liens against property are claims that are made to recover debt payments from the property owner. Creditors can place a general lien on a debtor, and then get a specific lien judgment against a piece of property owned by the debtor. If the owner wants to sell the property, the lien must be paid off from the proceeds. A mortgage agreement with a lender is a type of voluntary lien. But unlike mortgages, involuntary liens placed on your property can be released under certain conditions.
Do you or does someone you know need legal information regarding liens against property? Our real estate lawyers are here to help. Contact a real estate attorney in your area today for more information.
Listed below are all such aspects of liens against property:
If you have unpaid property tax, the taxing authority may place a lien on the property. The IRS also has the power to place tax liens for recovery of unpaid taxes, penalty and interest. In these cases, there are options to release the lien. This can be through an offer in compromise or installment plan agreement. You could also appeal for a hearing to contest the lien when you get the notice, and then take it to court if required.
A mechanics lien is the claim a service provider or construction contractor has over the property if bills for the work done are not paid. There are rules for jointly owned property, depending on the relationship between the joint property owners. Liens are attached on the entire property owned jointly by married couples.
Do you have additional questions regarding liens against property? Our real estate attorneys are here to assist you throughout the process and answer any questions you may have. Contact a real estate lawyer near you today.
Did you know?
A mortgage lender has precedence over creditors whom place liens against property.
When a property is foreclosed, the mortgage lender has first rights to clear the pending balance on the mortgage. If anything is left over, it can go towards the lien.