Category: Liens
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It’s a Bird. It’s a Plane. It’s a Super Lien!
Some states give certain liens a special status: super liens! Whoever records a super lien gets their money back first — they jump in front of the prior recorded liens on the property. Sometimes, homeowners’ associations have this super power. If so, they can override the famous “first in time, first in right” rule for…
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Know the Facts About Liens
Good Debt, Bad Debt… Nowadays, people can be divided into three classes: the haves, the have-nots, and the have-not-paid-for-what-they-haves. – Earl Wilson If you own a home, there’s probably a lien (or a few) on its title. A lien represents a debt that the homeowner has yet to pay. A mortgage creates a lien. There…
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When You Least Expect It… What You Need Know About Unrecorded Real Estate Liens
For many buyers, the home shopping experience involves gazing wistfully at hardwood floors, kitchen countertops, new appliances, and the sunny views from the windows over the garden. As the purchase decision gets closer, the focus turns to the AC efficiency and the state of the roofing, electric outlets, vents, and ducts. Even then, an unknown…
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The Judgment Lien Vs. the Levy
What is the difference between a lien and a levy on someone’s property? A lien is a cloud on a title, to be released once the homeowner completes repayment to a creditor. A levy is a legal seizure of the property. Here’s how they work.
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How Does a Judgment Lien Work? Our Succinct Guide to Judicial Liens on Real Estate
Many people have liens on their home properties, connected to some debt waiting to be paid. Consider your mortgage — a voluntary, recorded lien you agreed to have placed on the home as collateral for the loan. There are also involuntary liens, such as those imposed on your property after a court action. These judicial liens, or judgment liens,…
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How a Lien Affects the Real Estate Title
Many people have liens on their real estate. Consider your mortgage—a lien that leverages the home as collateral for your mortgage loan. Other liens, too, can show up in a title search. Homeowners should know what kind of liens might attach to a home they already own, or a home they’d like to buy. Here, we review the basics of home liens: types…