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A lien ( ⫽ ˈliːn ⫽ or ⫽ ˈliːən ⫽) [Note 1] is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee [3] and the person who has the benefit of the lien is referred to as the ...
In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1] A title search is also performed when an owner ...
There are many types of official business registers, usually maintained for various purposes by a state authority, such as a government agency, or a court of law. In some cases, it may also be devolved to self-governingbodies, either commercial (a chamber of commerce) or professional (a regulatory college); or to a dedicated, highly regulated company (i.e., operator of a stock exchange, a ...
A clear title, also known as a “clean title,” is a property title that is free from liens or additional issues that could jeopardize ownership, such as boundary disputes (encroachments) or ...
A mortgage lien is a specific, voluntary lien. The priority of the liens on a property determines which debt will be repaid first in the event of default and foreclosure. The best way to avoid ...
To find out if a car you want has an outstanding lien on it, conduct a lien search on your state’s department of motor vehicles website. This will require the car’s vehicle identification ...
Mechanic's lien. A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien.
Title search and tax lien issues In most jurisdictions, it is customary for the foreclosing lender to obtain a title search of the real property and to notify all other persons who may have liens on the property, whether by judgment, by contract, or by statute or other law, so that they may appear and assert their interest in the foreclosure ...
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