How to use Liens in a sentence
Use discretion when learning how to purchase tax liens, as the entire system contains hundreds of stipulations that vary based on the property in question.
A homestead to the value of $1000 which is owned and occupied by the head of a family is exempt from attachment or forced sale except for debts secured by mechanics', labourers', materialmen's or vendors' liens upon the premises.
Recognized causes for divorce are adultery, extreme cruelty, wilful desertion, wilful neglect, habitual intemperance or conviction for felony, The homestead of a head of a family consisting either of a farm not exceeding 160 acres or $2500 in value, or of a house and lot - the lot not exceeding 4 acre, and the house and lot not exceeding $2500 in value - is secured against debtors except in case of judgments obtained before the homestead was recorded as such, in case of labourers', mechanics' or vendors' liens, and in case of a debt secured by mortgage; if the owner is a married person the homestead cannot be mortgaged without the consent of both husband and wife.
The exemption is not valid against a debt created for the purchase money, or against taxes levied on the property, or against mechanics' or labourers' liens for work done or material furnished for improvements, or against a mortgage acknowledged by both husband and wife.
Homesteads belonging to the head of a family and containing 80 to 160 acres (according to value) if in the country, or a lot of ¢ to one acre (according to value), if in town, village or city, are exempt from liability for debts, excepting liens for purchase money, improvements or taxes.Advertisement
A homestead provision (1901) exempts from liability for debts (except mortgages or liens placed before the homestead claim) any homestead belonging to the head of a family, existing in one compact body and valued at not more than $2500; such a homestead a married man may not sell, lease or put a lien on without his wife's consent.
Under the laws of Maine a householder owning and occupying a house and lot may hold the same, or such part of it as does not exceed $500 in value, as a homestead exempt from attachment, except for the satisfaction of liens for labour or material, by filing in the registry of deeds a certificate stating his desire for such an exemption, provided he is not the owner of an exempted lot purchased from the state; and the exemption may be continued during the widowhood of his widow or the minority of his children.
A homestead of this size is exempt from levy for the debts of the intestate except in case of an incumbrance given by consent of both husband and wife, or of obligations for purchase money, or of liens for making improvements, and the homestead of a family cannot be alienated without the joint consent of husband and wife.
A homestead owned and occupied by any resident of the state and consisting of not more than 40 acres of agricultural land outside the limits of a city or village, or one-fourth of an acre within a city or village, together with the dwelling-house and other appurtenances, is exempt from liability for debts other than labourers', mechanics' and purchase-money liens, mortgages and taxes.
A homestead law exempts from judgment liens and forced sale a homestead not exceeding $2000 in value and consisting either of a farm not exceeding 160 acres or of property not exceeding two lots in a city or village; the exemption, however, does not extend to mechanics', labourers' or vendors' liens upon said homestead or to a mortgage upon it that has been signed by both husband and wife or by an unmarried claimant.Advertisement
Many of our associates already have real estate liens in force of between 5 million to over 15 million dollars.
In structure and some of its habits much resembling a bullfinch, but much exceeding that bird in size, it has the plumage of a crossbill and appears to undergo the same changes as do the members of the restricted genus Loxia - the young being of a dull greenish-grey streaked with brownish-black, the adult liens tinged with golden-green, and the cocks glowing with crimson-red on nearly all the body-feathers, this last colour being replaced after moulting in confinement by bright yellow.
A homestead not exceeding $1500 for the head of the family and $500 additional for the husband or wife and $250 additional for each other member of the family is not subject to execution except for the purchase price, or mechanic's and labourer's liens, lawful mortgage or taxes.
This will uncover existing liens on the property, and it will also help determine ownership.
If you go through a car dealership, obtaining a CARFAX report from them will show you if the vehicle has been in any accidents, has outstanding liens, or has any other DMV problems.Advertisement
Not many people know how to purchase tax liens because it is not a trendy subject.
Some states may seize real property and put it up for sale to investors who want to purchase tax liens.
Either way, it is a bargain for those who know how to purchase tax liens.
Liens, bankruptcies (up to 10 years) and delinquent child support payments can be included.
Equity is the value of your home minus any liens or mortgages against it.Advertisement
Note any public records listed, including bankruptcies, liens or collections actions.
Delinquencies, court judgments, property liens and timely payments fall within this category.
Assets may be seized or liens can be placed on property.
A title search to make sure there are no outstanding liens on your property.
If you don't check the title, you could end up buying a property on which loans or liens need to be paid.Advertisement
When you buy a home in the pre-foreclosure or foreclosure process you will probably be responsible for paying off any outstanding loans or liens that exist on the property.
It is important to know the total cost of paying off these loans or liens so that you can consider this expense when you are deciding what to offer on the property.
You can identify outstanding loans and liens by searching the title records of the property at the county courthouse.
Your initial offer should be somewhere between the base purchase price (amount owned on the home plus any loans or liens that need to be paid off plus any repairs that need to be made) and the market value.
This lien supersedes all other types of liens on the property so if the property owner does not repay the lien, the property is auctioned off.
Throughout this process the property owner receives several opportunities to become current on not only their tax debt, but also their mortgage payments or other liens on the property.
Bank-owned properties, with no taxes or liens, are often the best bet.
To purchase existing liens secured against the property and then rehabilitate the property.
Don't wait until the property has been paid off only to find out that you can't get a title because of unknown liens or encumbrances.
The most important laws to familiarize yourself with are those regarding redemption of the property and liens.
Some liens expire upon purchase at an auction, but many do not.
You may be responsible for paying any liens that do not expire.
You also want to find out about any additional liens on the property before you buy; a realtor or title company can help you find this information.
They accept any and all car types, regardless of condition, and you may not have any outstanding liens on your vehicle.
Ensure the vehicle does not have any registered liens against it.
There are no hidden liens or other encumbrances upon the property that is to be sold.
If you are confused by all of the different shapewear liens that are available today, know that you are not alone.