An IRS tax lien can be issued if a taxpayer owes unpaid state or federal income tax. The lien can be released if the debt is paid, a bond is accepted, or special circumstances exist. A lien can be appealed or withdrawn if a payment plan is set up. The lien affects credit rating and […]
A preliminary lien notice is a document that notifies a homeowner and general contractor that a person or company intends to file for a lien on the owner’s property. It is required when a lien applicant does not have a direct contractual agreement with a homeowner. The notice must contain specific information and be served […]
A home lien is a legal claim against a property, usually in response to a debt, such as a mortgage. It allows the mortgage holder to foreclose on the property if payments aren’t made. Liens can also result from lawsuits against the homeowner. Before buying a property, it’s important to do a title search to […]
A lien is a lender’s interest in a property to secure debt repayment. Mortgages are the most common form of property tax liens. If a borrower defaults, the lender can enforce the lien and take control of the property. The amount collected is limited to the outstanding debt, and court fees may be added. If […]
A notice of lien allows a creditor to have a legal interest in an asset until a debt is paid. There are different types of lien notices, including tax liens, weed liens, and mechanical liens. A perfected lien gives preference to a creditor over others. A notice of lien is a document stating that one […]
A lien is when a creditor places a claim on a property to secure payment for a loan or service provided. The lien holder can sell the property to settle the debt, but must follow legal procedures. Failure to comply can result in an unenforceable lien. Notification requirements apply, and legal requirements must be met […]
A lien sale is a sale of an asset or its lien to recover debt, often seen with vehicles and real estate. Before the sale, legal authority must be obtained, notices posted, and inspections conducted. Buyers should inspect the property and research any pending privileges. A lien sale is a sale of a lienable asset, […]
Filing a lien may vary depending on jurisdiction, but generally involves obtaining a judgment against the debtor and registering it with the land registry office. It’s recommended to work with debtors before filing a lien and seek legal help if needed. After obtaining a judgment, a lien can be filed, but payment may not be […]
A personal property lien is a legal claim against an item for an unpaid debt. Requirements vary by jurisdiction, but a lien holder should be paid first in financial transactions. Liens can be obtained for unsatisfied debts, and ownership is necessary for enforcement. Transactions should benefit the lien holder first, and privileges are transferable. In […]
Maritime liens are claims on ships or water vessels for unpaid labor, services, or wages. They can be used to place a hold on the vessel or force its sale to recover unpaid debts. Statutes of limitations vary depending on the type of claim and regional laws. Exceptions exist for vessels stored in dry dock, […]
A lien is a legal claim on property that serves as security against money or services owed to another person or entity. Different types of liens exist, and buyers should conduct a title search to ensure there are no liens preventing them from obtaining clear title to a property. A lien is a legal claim […]
A lien auction is a sale of assets to recover past-due debts, such as property taxes or utility charges. Liens can be placed on property, cars, and personal property, and if the debt is not paid, these assets can be sold at a lien auction. There are two types of property lien auction: a deed […]
A contractor’s lien allows a person or business to file a lien on a property to protect their right to receive payment for services or materials provided. The law for enforcing a contractor’s privilege varies by jurisdiction, and some require the person presenting the lien to be an authorized contractor. Before filing a lien, the […]
A general lien is a creditor’s right to access all of a debtor’s assets as security for repayment of loans. It differs from a vehicle lien as any collateral can be collected to settle the debt. Businesses use it to secure short-term financing for non-essential assets. Sometimes referred to as a lien on all assets, […]
Buying tax lien certificates can be a low-risk investment with attractive returns, but buyers should research the sales process, understand the rights conferred by ownership, consider the impact of bankruptcy filings, and assess the condition of the target property and any environmental issues. Buying tax lien certificates is an investment strategy known for its relatively […]
Liens restrict property or fund use until resolved. Real estate liens include mortgages, taxes, and easements. Accounting liens hold funds for financial responsibility. It’s important to understand liens before transactions. A lien is some type of property restriction that may inhibit its transfer. Liens may affect title to property or may take the form of […]
A business lien is a creditor’s security interest in a business due to unpaid debts, allowing them to place a lien on company assets. There are two types of corporate liens: judicial and consensual. It is important to research liens before buying a business to avoid legal battles and asset loss. A business lien is […]
