Our house is under contract to be sold and a family memeber is threatening to place a lien on the property for the amount they believe is owed to them - can that be done once the contracts are all signed? We are waiting for the financing to go through for the buyer.
2007-04-13 03:05:40 · 5 answers · asked by amy99z 1 in Politics & Government ➔ Law & Ethics
We are in Connecticut
2007-04-13 03:20:45 · update #1
Yes. It hasn't sold yet so the deal has not been consummated. A creditor has lien rights until the warranty deed is signed and the sale complete. The purpose of the lien is to stop the sale until the alleged creditor gets paid. He/she wants money from the proceeds of the sale. Whether the debt is legitimate or not, the creditor's timing is perfect.
2007-04-13 03:36:22 · answer #1 · answered by David M 7 · 2⤊ 0⤋
David M is right; a lien can be placed at any time before the sale. In fact, the lien might complicate the sale. Most people do a "title search" when they buy a house, to make sure the property is "unencumbered" -- that is, to make sure there are no liens. If the property is encumbered ( has a lien) they may not buy it at all.
The real question is, how will this guy get a lien? You should worry about going to court and making sure THAT doesn't happen if you want to sell your house "free and clear." You should of course contact an attoreny immediately.
2007-04-13 04:00:22 · answer #2 · answered by rd211 3 · 2⤊ 0⤋
properly, i keep in mind that they could position liens on your position or different property by ability of the courts. notwithstanding, i do not stay on your state, yet the position I stay, you are able to declare financial disaster. There are words that you nevertheless have a share to pay decrease back, and it makes your credit negative, notwithstanding it would help if you're in a nasty way. also, in case you personal your position, get a "residing house act" positioned on it. this may avert any business organization (or human being) from putting a lien on your position. notwithstanding, the authorities nevertheless can. yet you ought to do it before they placed the lien on you. it will be performed at your county clerks workplace and value between $50-2 hundred. truly well worth the price. you nevertheless ought to pay decrease back the money, yet, a minimum of they could't carry a lien over on you. yet, lower back, the regulations in MA are a touch diverse in SC, yet, its worth looking into.
2016-12-03 23:11:59 · answer #3 · answered by ? 4 · 0⤊ 0⤋
In Pennsylvania, the person would have to file either a Mechanics Lien Claim or file a judgment, or at least file a complaint in a legal action. However, a lis pendens would have the same effect.
Even if a lein is filed, it could be paid off at settlement.
Contact your attorney or title company for further information.
2007-04-13 03:23:55 · answer #4 · answered by Mark 7 · 0⤊ 0⤋
Depends on the state you live in. Check with a real estate attorney or even a real estate agent may know.
2007-04-13 03:15:21 · answer #5 · answered by Anonymous · 1⤊ 0⤋