In some cases, lien releases get lost or forgotten. For example, you might buy a used vehicle from somebody who previously had an auto loan, and the lien release fell through the cracks. You might need to bring legal action against a lienholder to have the lien released. First Savings Mortgage. Consumer Financial Protection Bureau. Actively scan device characteristics for identification. Use precise geolocation data.
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A property lien is a legal claim on assets that allows the holder to obtain access to the property if debts are not paid. A property lien must be filed and approved by a county records office or state agency. It is then delivered to the property holder with specific terms notifying them that action has been taken to repossess a piece of property. Property liens can be used by creditors in a variety of situations. A property lien is a legal claim to specific assets that have been granted by the courts.
Further, having a lien recorded against your home may prevent a sale of your home or refinance of your mortgage. Also, be sure that any credit agencies that were notified of the debt are also notified that the debt has been satisfied. If you have reason to believe that the lien is not valid, then you should contact us to see if it is in your best interest to file a lawsuit to file the lien. You may have a claim for a frivolous lien, or the basis for filing a quiet title action to have the lien removed.
In limited circumstances, it may be in your interest to leave the lien alone and challenge the creditor to take the next steps. While you should get a Release of Lien notarized by the party when the lien is satisfied, you might not get this with large entities such as the IRS.
Take your proof of payment and letter satisfying the lien to the county recorder's office to have the lien released. If you feel there is a lien wrongly placed on your property but the party refuses to release it, file a Quiet Title petition. Take the party to court to prove you are not responsible for the debt. If the judge rules in your favor, you will get a Quiet Title judgment to file with the recorder's office. If you don't win, attempt to settle the lien with the lien holder for a lesser amount or just pay them.
If you are selling, the only option is to have the lien released.
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