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When a property has a clear title, that means the title is free from liens or other claims that could call its ownership into question. If you're buying a home with a mortgage, your lender will ...
Here are a few steps to follow if you find a lien on your property: Determine the type of lien. Remember that if you have an active mortgage, you have a voluntary lien which won’t prevent you ...
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
In the majority of states, property owners can perform a lien search by providing the property address to the county recorder, clerk or assessor’s office. You might need to pay a nominal fee to ...
Clear title is the phrase used to state that the owner of real property owns it free and clear of encumbrances. In a more limited sense, it is used to state that, although the owner does not own clear title, it is nevertheless within the power of the owner to convey clear title. For example, a property may be encumbered by a mortgage. This ...
second lien—a lien that ranks next after a first lien on the same property. secret lien—a lien not appearing of record and unknown to the purchasers; a lien reserved by the vendor and kept hidden from third parties to secure the payment of goods after delivery. [26] solicitor's lien—the right of a solicitor to recover his costs from a ...
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