LEADFLOW IN THE NEWS
LEADFLOW IN THE NEWS
A type of lien that allows a lender or other creditor to claim the rental income from a property as collateral for a loan or debt. The lien gives the lender the right to collect the rents from the property in the event that the borrower defaults on the loan or debt.
A legal claim that is placed on a property as a result of a court ruling. The lien gives the person or entity that obtained the judgment the right to take possession of the property if the borrower doesn't pay the debt or judgment amount.
Is a legal claim that can be placed on a property as a result of a debt or obligation that the property owner owes to someone else. A general lien can be created in a variety of ways, such as through a court judgment, a contract, or by operation of law.
A legal claim that the homeowners association can place on a property for unpaid assessments or other charges that the property owner owes to the association. This type of lien is often referred to as an "assessment lien." The lien gives the association the right to take possession of the property if the assessments or other charges are not paid.
A legal claim that can be placed on a property by a contractor, subcontractor, supplier, or another party who has provided labor or materials for the improvement or repair of the property but has not been paid for their services. The lien gives the person or entity that has the lien the right to take possession of the property if the debt is not paid.
A legal claim that can be placed on a property by a government entity, such as a city, county, or state, for unpaid taxes. The lien gives the government the right to take possession of the property if the taxes are not paid. Tax liens are typically placed on properties when the property owner has failed to pay property taxes, such as real estate or personal property taxes, on a timely basis.
A legal claim that can be placed on a property by a utility company, such as a gas, electric, water, or sewer company, for unpaid bills or fees. The lien gives the utility company the right to take possession of the property if the bills or fees are not paid.
Depending on the state and local laws, the utility company may be able to disconnect service if bills are unpaid, they may also be able to add late fees or penalties, and may also be able to conduct a lien foreclosure on the property.
A legal claim that can be placed on a property due to the death of the property owner. It is a legal claim by the personal representative of the deceased person's estate for the payment of debts and expenses that were incurred after the person's death, but before the estate was settled.
When a person dies, their assets, including any real estate they owned, become part of their estate and are subject to a probate process. The probate court will appoint a personal representative, also known as an executor or administrator, who is responsible for collecting and managing the assets of the estate, paying off any debts, and distributing the remaining assets to the beneficiaries of the will or according to the state laws of intestate succession.
During the probate process, a lien may be placed on the property, which allows the personal representative to pay off any debts or expenses incurred during the process before distributing any remaining assets to the beneficiaries. The lien will be removed once the estate has been settled and the property has been distributed to the beneficiaries or sold to pay off any remaining debts.
A legal claim that can be placed on a property as a result of a divorce settlement. It is a mechanism for one spouse to ensure that the other spouse pays their share of debts or assets that are awarded during the divorce process.
Divorce liens are often used to secure the payment of alimony, child support, or other financial obligations that may be awarded during a divorce.
A notice of pending legal action that can be filed with the appropriate government agency, such as the county recorder or clerk, to place a lien on a property. The notice serves as a public warning that there is a legal dispute involving the property and that anyone acquiring an interest in the property during the pendency of the action does so subject to the outcome of the case.
It's also worth noting that, a lis pendens can only be filed during the pendency of a lawsuit, once the case is resolved, the notice will be released and the lien will be lifted.
It does not give the party that filed it the right to take possession of the property, it serves as a warning of a potential claim or interest on the property. It does not have the same effects as a regular lien and does not have the same priority either.
