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Mechanic's liens are enforced exclusively through judicial foreclosure sales, i.e., through court proceedings similar to mortgage foreclosures. The court must determine whether the requirements of the statute have been met and, if so, the priority of the mechanic's lien being foreclosed relative to the other liens or encumbrances on the title.
Undisclosed tax liens. A disputed will. Mechanic’s liens. Zoning violations. ... which protects the lender and covers up to the value of the mortgage if a defect is found.
Involuntary property liens: These are liens placed without your consent, typically as a result of unpaid debts. If you cannot pay your property taxes, for example, your county or state tax ...
In Mechanic's lien law a Notice of Intent to Lien (also known as a Notice of Intent, a Notice of Intent to File a Mechanics Lien, an intent notice, an NOI, or a notice of non-payment) is a type of preliminary notice that warns the property owner, prime contractor, and/or other party on a construction that a mechanics lien or bond claim will be filed unless overdue payments are made within a ...
In the case of a possessory lien, the secured party (the lienor) [27] has no right to sell the assets - merely a right to refuse to return them until paid. In the United States, a lien can be a nonpossessory security interest. Many legal liens arise as a matter of law (by common law or by statute).
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general lien—a possessory lien by which the lien holder may retain any of the debtor's goods in the lien holder's possession until any debt due from the debtor, whether in connection with the retained goods or otherwise, has been paid. Factors, insurance brokers, packers, stockbrokers, and banker's liens are all usually general liens.
In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]