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Home > Law > Real Estate Law   »   Placing a Lien on my own property?

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Old Sep 3, 2007, 05:09 PM
inquizative
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Placing a Lien on my own property?
I've been told that wealthy people place two liens on thier own property, together equalling 100% of the value, to protect it should someone else want to place a lien on it. Is this correct? And how do we go about doing this?

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Old Sep 3, 2007, 05:24 PM   #2  
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You can not place a lien on your own property. If your property is owned by a LLC or Corporation, you may have another company that has a mortage on it.

But if you could even legally place a lien on your own property, it would not protect you from a judgement since the lien is value, so they would merely get the lien given to them by the court.
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