Ask Experts Questions for FREE Help !
Ask
    airbacon's Avatar
    airbacon Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 7, 2007, 01:23 PM
    Realestate law
    I just received a notice telling me I have a lean on my house... what does this mean?
    Lowtax4eva's Avatar
    Lowtax4eva Posts: 2,467, Reputation: 190
    Ultra Member
    		  
    #2

    Mar 7, 2007, 01:28 PM
    Meep, you must owe a good deal of money to someone and they are trying to use the equity in your home to collect their money.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Mar 7, 2007, 01:38 PM
    A Lien is a notice of interest in a property or asset. A Lien prevents the property from changing hands until the amount of the lien has been paid.

    When you take a loan out on your property, the lender takes a lien against the property to protects its interest.

    If you have work done on your home and you do not pay it the tradesman will sue, you, obtain a judgement and then file a lien against the property. This is usually called a mechanic's lien.

    Most areas do not allow liens to be placed on a primary residence for unsecured debt. Also, a lienholder can usually not force the sale of the property to satisfy the lien, they have to wait until the property is sold.

    So who do you own money to? How told you the lien was filed? What dod they tell you about the lien?
    landlord advocate's Avatar
    landlord advocate Posts: 283, Reputation: 36
    Full Member
    		  
    #4

    Mar 7, 2007, 02:07 PM
    This could also be a tax lien. Who sent you the notice?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

SRS document for REALESTATE Project [ 4 Answers ]

I am New to Prepare SRS document for REALESTATE Project . Helpme

Slump in Realestate Market how to negoiate a realestate deal on new house [ 4 Answers ]

Want to purchase a new house which has constructed already which is a year old never Bought by anyone, A realestate is listing the house, however since the realestate market Is in a slump. Want to know the best way to negoiate a good price without paying the fulling asking price for it which...

Month to month realestate lease Illinois [ 18 Answers ]

Can a month to month tenant live out their security deposit in the state of Illinois

Unethical realestate contract [ 10 Answers ]

My wife and I are in the process of selling out home. Our home has been on the market for about a month and a half. Monday of last week our realitor brought us a contingency contract from a prospective buyer. Our realitor said the buyer is in the process of selling their home and an offer for...

Law [ 1 Answers ]

Hello, I'm HoNee and I got a question, hopefully someone can help. I'm kind of stuck in a rut, I was placed on unsupervised probation for 12 months after pleading guilty to a possession charge, I was to complete 32 hours of drug counseling and pay fines. Anyhow, I've paid the fines and am about to...

View more questions Search