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An IRS tax lien means the IRS is placing a lien against your hours or other personal property. This is usually due to you owing the IRS an amount of money. If you cannot pay it within a certain amount of time, they could put a lien on your property, seize it, and sell it in order to make the money they are owed.
A lien is a right or interest a creditor has in another's property. The lien lasts until the debt is paid or until any statute of limitations for the particular type of lien has passed. If a lien is to affect real property it must be filed in the land records.
There are many different types of voluntary and involuntary liens. Mortgages and car loans are examples of voluntary liens. Examples of involuntary liens include income tax liens, property tax liens, liens for non-payment of municipal services, mechanic's liens, child support liens and judgment liens.
See discussion page.
A lien prevents the encumbered property from being sold, refinanced or conveyed in any manner.
The above answer isn't correct. Property can be sold, refinanced and conveyed subject to a lien. Often the seller will pay funds into escrow to cover the amount of the lien, but even that isn't necessary for a valid conveyance. The lien stays with the property until it is released. A sale, mortgage or conveyance doesn't wipe it out.
What a lien does is provide security for an obligation, a debt. The property against which the lien is filed provides a kind of collateral for the debt. The holder of the debt, the creditor, can follow certain legal procedures to foreclose on the lien. Ultimately, the creditor can force a sale of the property and have the proceeds applied to pay off the debt.
A lien is what is used as a guratee to insure.
In regard to a loan is what is called collaterial. I have being lending the lien and the unlien loans [collaterial and non_collaterial loans]to help those in financial need. I do this with a very low interest rate. If interested in this it is adviceable you come to my private lending box via:hrobinlendingservice@Yahoo.ca
A lien is a legal document that is filed on unique assets of the business enterprise as a form of collateral. Once the loan is repaid, the lien is released.
This is a contract to buy or lease a house. It says someone else other than you holds the title rights or mortgage rights to the house or property.
A land lien (or property lien) is used to inform the public you owe money on the house. It is often printed in the local newspaper.
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Can a loan company put a lien on your car if its not paid off?
If the vehicle was put as collateral for the loan, there already is a lien on it.
What is the statue of limitations on a car lien?
The lien is no longer applied to the vehicle when the loan is paid off. You can then get a lien release from the lender. As long as the loan has not been paid off the vehicle still has a lien on it.
How do you put a lien on a vehicle?
how can i put a lien on a motor vehicle for a loan that was put out and no payment made yet on the personal loan
What is Par loan?
I am working in one of the MNC where I am recently transfer to Bank Loan department (Syndicate loan )so I want to Know about below loans.1) Par Loan.2) Distressed Loan.3) Term Loan.4) First Lien & Second Lien Loan
Putting a lien on your drivers license?
can a car loan company put a lien on drivers license
After 10 years is car lien valid?
Unless the lien is waived, yep. Did you pay the loan off? If so, get the lien lifted.
What is a mortgage lien?
Mortgage Lien - Is a legal claim against a mortgaged property that must be paid or assumed when the property is sold. The person who has the lien on the property can claim the property if the loan defaults. The mortage lien typically belongs to the lender in order to secure the mortgage loan.
How do you cancel a bank lien?
pay off the loan
Do you have to pay your car loan if you have the title with no lien on it?
yes
Is a home equity loan considered a lien?
Yes
Can a loan company sue you for an unpaid loan?
Yes. If you fail to pay a loan the lender can sue you in court and if successful it can obtain a judgment lien against you.
What does it mean if there's a lien on a car title?
A lien on a car title most typically means that money is still owed on the car. When a person takes out a loan on a car a lien is put on the title until the full repayment of the loan.
