Types of Property Liens in Real Estate

Dec 20, 2017

You’re ready to move forward in the home buying process when it comes to a screeching halt – a lien. You never knew one potentially existed against that “dream home” and what once was hopeful can quickly turn into a nightmare – unless you knew a lien lurked in the property’s history.

It’s easy to find what you’re looking for if you know WHAT you’re looking for and when it comes to liens that can thwart or derail the purchase. Beaches Title can help you. If your potential property has an owner with unpaid debt, you certainly don’t want to take that on. That’s where the process of a property lien and title search can unearth liens that can be put on property – even maritime vessels!

Debtors can demand repayment of what they’re owed by way of money or some property owned by the person in debt. It can be in effect until the debt is taken care of.

These are limited in their scope and can be placed against real estate. There are two types: special liens and general liens. It means the property and services performed must be “related” and not part of “previous debts.” General liens can cover the entire property until debts are paid.

This lien allows the property owner to retain it – though it belongs to the person placing the lien – as a way to make sure the debt is repaid.

Like the statutory lien between two parties – this one allows the person placing the lien to actually possess the property of the debtor UNTIL the debt is resolved. Both property and real estate are able to have this type of lien.

These apply to seafaring vessels and are in place until a debt is paid. These liens do not include real estate.

A municipal authority can keep a property owner from benefiting from a public improvement by the authority until a debt is paid.

Unpaid utility bills? If a utility provider is a local government subsidiary, it can place this type of lien against your property.

Minimize and eliminate your exposure to liens. Use Beaches Title to conduct a thorough search for you.