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Your lender might also charge a reconveyance fee for removing the lien. Other types of property liens Aside from mortgage liens, there are many different types of property liens, each with its own ...
The difference between them is that in the case of a pledge the owner delivers possession to the creditor as security, whereas in the case of a lien the creditor retains a right of possession of goods previously delivered to him for some other purpose. Neither a mortgage or a charge depends upon the delivery of possession. The difference ...
It is an inherent vagary in the lien release law. In the United States, some states only use a conditional waiver on progress payment and an unconditional waiver on final payment. The mechanics lien process can be of great value to claimants in enforcing their claims, if done according to the laws of the various states, or the federal ...
vendor's lien—a seller's lien on land as security for the purchase price (sometimes called an unpaid vendor's lien). voluntary lien—a lien created with the lienee's consent. warehouser's lien—a lien for storage charges for goods stored with a bailee (sometimes called a warehouseman's lien).
Liens that have attached to the title before the mortgage lien are said to be senior to, or prior to, the mortgage lien. Those attaching afterward are said to be junior or subordinate. [30] The purpose of this priority is to establish the order in which lienholders are entitled to foreclose their liens in order to recover their debts. If a ...
The difference between mortgage lenders and mortgage servicers Key terms. Mortgage lender. Mortgage lenders provide money borrowers use to buy, build or make improvements to homes. They also ...
A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien.
A loan waiver is the waiving of the real or potential liability of the person or party who has taken out a loan through the voluntary action of the person or party who has made the loan. [1] Examples of loan waivers include the Stafford Loan Forgiveness program in the United States and the Agricultural Debt Waiver and Debt Relief Scheme in India