I have a promissory note from a relative who used a piece of property as the collateral, but I do not have the titile to the property. How do I place/file a lien on the property?

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Originally Posted by silver1950

I have a promissory note from a relative who used a piece of property as the collateral, but I do not have the titile to the property. How do I place/file a lien on the property?

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Do you have a Judgment or does the note specify the loan is secured by the property?

The note specifies the loan is secured by the property

There is NO other loan on the property.

Here is what we have done.

1. Written Promissory Note Signed by Borrower
2. Security Agreement specifying the property to be used as collateral
Signed by borrower and lender notarized.

With these two documents can we send these to the county recorders office and have them filed?

Would this give the lender a lien on the property?

Thank you


T

Only the Security Agreement should need to be filed in the county recorder's office. That will give the lender a recorded mortgage and the property cannot be sold or refinanced without the mortgage being paid off.