Ad
related to: lien satisfaction letter for judgement definition real estate nc beach
Search results
Results From The WOW.Com Content Network
In some states, such as Texas, an abstract of judgment is a specific type of document provided either by the court clerk or by an attorney which is used to prove that a judgment has been rendered. The abstract may then be filed in another jurisdiction, where it constitutes notice of a "judgment lien " on the debtor 's real property , thereby ...
An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and residential transactions.
mechanic's liens, which secure payment for work done on real property or land; judgment liens, imposed to secure payment of a judgment; and; maritime liens, imposed on ships by admiralty law. Liens are also "perfected" or "unperfected" (see Perfection (law)). Perfected liens are those for which a creditor has established a priority right in the ...
In foreclosure cases, a deficiency judgment is a court order allowing a lender to collect the remaining mortgage balance when the proceeds from the sale of the property aren’t enough to pay off ...
In United States law, a lis pendens (Latin for 'suit pending' [1]) is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office.
Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
The term "judgment proof" instead refers to the inability of the judgment holder to obtain satisfaction of the judgment. If a plaintiff were to secure a legal judgment against an insolvent defendant, the defendant's lack of funds would make the satisfaction of that judgment difficult, if not impossible, to secure. [1]
In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]