Judgments and liens on real property can become a problem for the property owners if the judgment is not paid or removed promptly. Tax judgments that are not satisfied can be subject to a lien. Once the lien is attached to real property, the municipality can list the lien property for sale.
Mayflower Capital Company specializes in judgment purchasing. Mayflower Capital Company will buy judgments and all liens or a judgment on real property.
In many states, creditors can place a lien on the primary or secondary property for an unpaid bill which can force the lien property for sale. These bills could be for an unpaid credit card or medical bills. Once a lawsuit is filed, the creditor can ask for the lien to be placed on the property. The judgment or lien will stay attached to the property until it is paid or expired which could prevent the owner from selling the property.
There are ways to remove a judgment lien on real property.
There are many types of liens, and each type has different rules for how long they can remain attached to real property. Also, each state has their own rules for how long a lien is valid.
The first step is to ensure the lien is still valid. Some liens have an expiration date. However, the lien holder can renew the lien and extended the time.
If the lien has not expired, then it will need to be paid in full to get it removed.
Once a lien is paid in full then a Release of Lien is issued, but not always can the forms be found at the county clerk’s office. The lien holder’s signature is required for the release of lien to be valid.
Expired liens do not necessarily require a Release of Lien, but it always recommended you discuss this with a licensed attorney in your state.
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