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Title issues are not common, but if the title search uncovers one — or if it doesn’t, but one comes up later — there can be considerable legal costs. This is where title insurance comes in.
With U.S. Title Records, you’ll pay $95 for a detailed property lien report. You can also order a personal lien report to check for judgment liens on other property items, like your vehicles ...
The Home Equity Theft Prevention Act (HETPA, NY RPL §265-a) is a New York State law passed on July 26, 2006, to provide homeowners of residential property with information and disclosures in order to make informed decisions when approached by persons seeking a sale or transfer of the homeowner's property, particularly when homeowners are in default on their mortgage payments or the property ...
Judgment lien: In the event you lose a lawsuit, the plaintiff could file a judgment lien until you pay the money the court awarded to the plaintiff. Collectors of credit card debt, outstanding ...
An action to quiet title is a lawsuit brought in a court having jurisdiction over property disputes, in order to establish a party's title to real property, or personal property having a title, of against anyone and everyone, and thus "quiet" any challenges or claims to the title.
In title-theory states, a mortgage continues to be a conveyance of legal title to secure a debt, while the mortgagor still retains equitable title. [23] In lien-theory states, mortgages and deeds of trust have been redesigned so that they now impose a nonpossessory lien on the title to the mortgaged property, while the mortgagor still holds ...
[2] [3] The registered owner of a property in question is normally presumed, sometimes conclusively, to be the legal owner of the property and is said to “hold the title” or is “registered on the title”. Ownership of property usually implies a right of possession, as opposed to the party that has right of property.
A title with a lienholder refers to a bank or lender who holds the car's title. If you buy a car with a car loan, the lender holds the car title until you pay off the loan.