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Here’s what you need to know about property liens, including different types, their consequences and how to check for a lien on your property. What Is a Lien? A lien is a legal right, or claim ...
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 ...
How to check for clear title on property. As a homebuyer or seller, you can visit your local property records office or do an online search for the property’s title history. This will tell you ...
junior lien—a lien that is junior or subordinate to another lien on the same property. landlord's lien—a lien that empowers a landlord to seize a tenant's property and sell it to satisfy overdue rent. manufacturer's lien—a statutory lien that secures payment for labour or materials expended in producing goods for another.
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.
Under lien theory. a mortgage acts to place a lien on the mortgaged property in favor of the mortgagee, and legal title is retained by the mortgagor. Judicial foreclosure is most often necessary as a remedy to default pursuant to mortgages within lien theory jurisdictions, and this process has been found to be cumbersome, time-consuming and costly.
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