Big businesses are referred to liens and the value of the property liens in year 2018 is estimated to be $37,260,723 and $18 million of the overall property value are expected to be sold.
property liens nowadays are becoming an alternative for stock market this is because investors always look for the viable option when they are investing like stability and growth, see more about property liens now.
Property lien in simple terms means legal claim made to a property so as to settle a debt and the moist common one is when someone defaults their loan payments.
The most common property lien is when someone defaults paying the loan and in this case the loan provider is the lien holder in the instance someone defaults loan repayments, see more about liens now.
Lien affects your property, to sell your house you must have the right license to do so and a property lien calls that license to question and more often than not you can also be able to sell your house when it is with a lien, see more about property lien here.
You need to know how to clear with the lien property, the most obvious one is to have the debt settled by paying it off in full, next to remove a property lien is to settle with lien holder for more about lien ,check more details here.
This is because creditors are often most of the times willing to settle for less that the real amount owed, the third method is to get rid of the property and if the lien is filled in error and you can prove it you can file it to be corrected, see more about liens here.
You can have a situation when the lien was faced by the previous owners and even though they paid the settlement was not recorded and this can be corrected easily and you just have to prove change of ownership, see more about lien here.
The final option is for you to dispute a lien, if the lien is filed incorrectly or you find discrepancy over your terms, you are free to dispute the lien, which is the hardest part but requires legal battle if you believe that the lien is held in bad faith for example.
Just like anything to do with real estate law and properties, property lien is a complicated and vast topic, however these basics are essential in getting you started but always ensure to make consultation with real estate experts when you face a lien.
You can have private negotiation in an effort to having the lien settlement lifted, this is a negation or arbitration done with the lien holder, and they may lift the lien and in exchange commit to pay more monthly payments.