View Full Version : Land contract lien
Gogoelm
Sep 24, 2012, 11:50 AM
My buyers could not obtain the financing within two years per the terms of the land contract. They are just living on the rental basis. During process of refinancing I found out that their creditors have liens on the property. How do I get those removed.
ScottGem
Sep 24, 2012, 12:44 PM
Is the deed still in your name? If it is, show the Recorder of Deeds that you still own the property and therefore any liens for debts incurred by the buyers are not valid.
AK lawyer
Sep 25, 2012, 05:13 AM
Is the deed still in your name? If it is, show the Recorder of Deeds that you still own the property and therefore any liens for debts incurred by the buyers are not valid.
A recorder of deeds doesn't adjudicate the validity of recorded documents such as liens. It would be up to the buyer's attorney to determine if the lien, if shown in the title policy, is anything to worry about. Normaly it would not be.
ScottGem
Sep 25, 2012, 06:55 AM
I suggested contacting the Recorder of Deeds to find out the process for removing the lien since it may vary by county.
Fr_Chuck
Sep 25, 2012, 08:43 AM
On a contract for deed, the buyers name should not be on the deed or the taxes. There is no legal connection between them and the deed, except they have a contract to get it latter.
You did not put the deed into their names ?