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Some governing documents state that assessments are a permanent liability against a unit's title, and are payable in increments, usually 12 over the course of a year. The annual budget, then, establishes the annual assessment amount.
Some lien language, when filed against an owner who falls behind in paying assessments -- at the judgment of the board -- can indicate that a lien essentially 'rolls' with the due date of every assessment increment, should it not be paid.
Your best answer will come from your association-savvy attorney, given more details of your specific situation.
AnswerNo. The type of lien you seem to be referring to is a charge upon real or personal property for the satisfaction of some debt. If the debt doesn't exist then there are no grounds for entering a lien against any property.
If you loan money to another person for the purchase of real property you should record a mortgage in the land records as security that the loan will be paid. If you loan money for the purchase of a car your lien can be stated on the Certificate of title.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoThis is a grey area depending on where you live:
- Once all you personal finances are legally separated, no
- If the debt was incurred During the divorce maybe
- If the debt was incurred during your marriage, Yes definitely.
And just to be nasty they may file a Lien even though they are not entitled to and you will have to go through a painful long process to prove they are not entitled and incur cost to prove it. Then in many jurisdictions the authorities won't go after them in any way.
Really nice all around.
Wiki User
∙ 13y agoState Laws allow a city or town to record property tax liens after a property has been transferred to a new owner. In my area the municipality has three years to record a tax lien for unpaid property taxes. This is one of the reasons a prudent buyer hires an attorney who specializes in real estate law to represent them when they purchase real estate. The attorney will examine the record title and check with municipal departments to determine if any unpaid taxes or other assessments exist.
Other types of creditors are out of luck if they don't record a lien prior to the debtor's sale of the property.
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Does a judgment become a secured debt?
If it is against property..if it is a judgement against you generally, then no.
Can a lien be recorded against a debt-free property?
Yes.
What is the Statute of limitation on real estate debt?
If the debt is on real property, there is no limit. The debt is a lien against the property and the debtor collects on sale. A lien is valid as long as the property exists, and land seldom disappears.
How can you have lien against you when you don't own property?
A creditor who sues you for a debt can obtain a judgment lien against you that is good for a number of years. It can hold onto that lien until you do own property and then move against you to seize it to satisfy the debt.
What happens to second mortgage in foreclosure?
After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.After the foreclosure of the first mortgage the second mortgage is wiped out as an encumbrance against the property but remains an unpaid debt against the mortgagor. The creditor can sue in civil court.
What is difference between charge and lien?
A lien is a legal document that prevents sale, usually of a property until the debt is satisfied. Charge is an agreement to pay a debt in a specified tied under specified terms.
If you are sued for defaulted credit card debt do you have to go to court?
No, but in all likelihood a default judgment will be entered in favor of the plaintiff and can be enforced against the defendant debtor's real or personal property according to the laws of the debtor's state.
Who can issue a tax levy against property?
The IRS can issue a tax levy against property. A tax levy against a property is to claim back any tax owed to the IRS. The money made from the property will go towards the debt owed.
Can your neighbor put alien on your home for not paving the road?
A lien is a legal way to compel a person or company to pay a debt, usually in relation to the real property the lien is filed against.So if you entered into a contract to pay a portion of paving costs for a shared road and your inability or refusal to pay a lien might be filed against your property.If there is no direct connection between the real property and the debt then a lien would have to be filed after a court proceeding.Short answer:Yes if the pavement was on the property the lien was filed against.
Are you responsible for the mortgage on the property that was left to you as an inheritance?
You are only responsible for the mortgage if you are willing to accept the debt. If you are not willing to accept the debt you simply allow the property to be entered into probate and foreclosed on by the lender. You are not responsible for any monies owed regarding said property even if it was "willed" to you unless you choose to do so.
What is the process of repossession?
Repossession is an option that some lenders use to help pay against a bad debt. The debt or loan must have been secured by property. That property will in most cases have a lien placed against it to prevent unlawful sale and fraud against the lender. When the vehicle is repossessed, it is sold at auction and the proceeds are applied to the debt to help offset it or pay a portion of it.
You co-signed a mortgage for property you don't own. Can a lien be placed on that property for your own personal debt?
No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.
