Lien Against Property
What is a lien?
In legal terms, a lien refers to a particular type of security interest, usually granted over any property in particular, for securing a debt payment or for performing some additional obligations. Here, the property owner grants that lien is officially labeled as the lienor. And the individual taking the benefit from that lien is called the lienee.
Why is it used?
A lien is placed against a property to serve a range of purposes. But most commonly, a lien against property is used when someone intends to apply for home mortgages or home refinancing. Such a lien on a property entitles its current owner to arrange the financing.
In addition, the lien might be placed against a property because of unpaid federal/state taxes, child support or divorce expenditure. So the numerous cases where debtor fails to pay his or her debt, he or she goes for the lien. In line with every legal matter, you are advised to consult a seasoned attorney. Nevertheless, you are entitled to file the lien yourself.
Steps for getting lien on property
1. Make an assessment of the legal procedure you have to pass through. Sometimes it takes tons legal paperwork as well as research. Actually that’s where the issue of the attorney comes in. But you have to make sure that the attorney hired is specialized in such matters. And when you fear that you are inadequately educated in issues like judgments or liens, you should at least listen to the professionals’ opinion before you proceed on your own. You have to also ensure that you are legally and sufficiently covered.
2. And you have to make some more assessments regarding the category of lien you’re about to place against the property. There are a range of lien categories, so you got to ensure that you’re filing an appropriate one. There’re mechanics lien, workmen’s lien, and contractor liens among the major categories. And do try to realize whether you’re putting any lien against your property for the resolution of any unpaid debt, rather than the debt you owe on your property itself.
The bottom line is that, you need to have thorough understanding of these issues before you file those paper works. And one more thing is that it is not possible that you lien against anyone’s property if he or she owes you some money. Actually, the entire situation has to be assessed by the court first and they have the jurisdiction to file the lien against your debtor’s property.
3. Lien forms can be purchased at your neighboring office supply shops, and libraries. You can also find it at the office of your local attorney. And ‘direct liens’ are allowed to be directly filed with the court. This lien might be attached to a property and they are meant for contractors and mortgage lenders. On the lien form, you have to enlist all sorts of details related to that lien.
