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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 response, a slight majority of U.S. states have adopted nonjudicial foreclosure procedures in which the mortgagee (or more commonly the mortgagee's servicer's attorney, designated agent, or trustee) gives the debtor a notice of default (NOD) and the mortgagee's intent to sell the real property in a form prescribed by state statute; the NOD ...
A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
The seller’s costs to sell that home include a mortgage payoff balance of $300,000, real estate agent fees of $15,000, attorney fees of $1,000 and other sales taxes and closing costs of $4,000.
If the tax is not paid within a specified period of time (including additional interest, penalties, and costs), a tax sale is held, which may result in either 1) the actual sale of a property, or 2) a lien sold to a third party, who (after another specified period of time) may take action to claim the property, or force a later sale to redeem ...
Estimating the costs to close a sale and to move, analyzing local real estate market conditions and — most of all — figuring the amount of equity you have in your current home are all ...
A federal tax lien arising by law as described above is valid against the taxpayer without any further action by the government. The general rule is that where two or more creditors have competing liens against the same property, the creditor whose lien was perfected at the earlier time takes priority over the creditor whose lien was perfected at a later time (there are exceptions to this rule ...
Subject to the requirements of the recording laws of the state in which the mortgaged property is located, this attachment establishes the priority of the mortgage lien with respect to most other liens [28] on the property's title. [29] Liens that have attached to the title before the mortgage lien are said to be senior to, or prior to, the ...