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Federal tax lien: The IRS can place a lien on your property due to failure to pay your federal taxes. This lien can cover your personal property as well as other real estate assets, any vehicles ...
Subject to the requirements of the recording laws of the state in which the mortgaged property is located, this attachment establishes the priority of the mortgage lien with respect to most other liens [28] on the property's title. [29] Liens that have attached to the title before the mortgage lien are said to be senior to, or prior to, the ...
The federal or state government can place a tax lien on your home when you don’t pay your taxes. This lien takes priority over any other type, and the government will seize your property if you ...
You’ve just bought your dream home. Now it’s time to outfit the place, meet the neighbors and settle in. But your new space holds an expensive secret: The title search missed a $10,000 lien ...
Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien".
Examples are those getting the property as a gift and heirs. Also, those who purchase ownership interests in the owners of the property, such as shares of stock in a corporation owning the land, have not purchased an interest in the property itself and so are unprotected. Also, recording laws generally do not protect purchasers against real ...
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The English common law recognized mechanic's liens respecting only personal property. The lien was created by operation of law by the fact of the artisan working on the personal property item or attaching additional material to it. However, to maintain the lien, the artisan had to retain possession of the article until he or she was paid.
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