"Alien"- Better Known as "a Lien"

December 11, 2008

*Note: Since this article contains several technical terms/words, I have included some helpful definitions in order that you may better understand the article. 

Vocabulary Terms:

Lien: 1 : a charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law

Bond: a: an obligation made binding by a money forfeit ; also : the amount of the money guarantee b: one who acts as bail or surety c: an interest-bearing certificate of public or private indebtedness

Adjudication:  a: a judicial decision or sentence

Disclose:  a: to expose to view c: to make known or public

Quitclaim: : to release or relinquish a legal claim to

Occasionally homeowners who are trying to sell their home are surprised to learn that their title is burdened by an "ALIEN" -oh- I mean a lien. There are several types of liens; the most common are mechanic's or contractor's liens.

The lien (or debt) must be paid off in order to be cleared.  If the owner prefers to challenge the lien, he can release it by posting a bond, pending adjudication. In some types of liens, a title search may disclose claims against the property by an ex-spouse or long-ago heir of a former owner. A simple "quitclaim" deed may be used in these cases. By signing the deed, the person involved signs over whatever rights he or she might have, without laying any claim to the property. In general, liens can be removed by paying the amount owed. 

Interested in finding out more about liens?  Visit this website http://www.enotes.com/everyday-law-encyclopedia/contractors-liens     to find out more specifics about:

• Types of Liens
• Lien Releases
• Lien Waivers
• Discharging Liens
• State Rules Regarding Contractor's Liens

Most real estate transactions involve at least some minor unresolved issues on the part of either the buyer or the seller. This is where an experienced real estate agent can provide solutions to resolve the issues and wrap up the sale.

Are you thinking of selling your house?  If you need a professional real estate agent in the Chico area call me to see how I can help sell your home.

Take a look at my market report for today!
http://www.ryanvaught.com/chicomarketreport

Currently Ryan has about 40+ listings in inventory, and is on track to sell over 40 homes in 2008. Please don't hesitate to contact me with any questions about Chico area real estate.

Interested in learning more about the Chico area or Ryan?
Vaught Properties: Chico Income Property
Chico Condos: Chico Condo Sales
Ryan Vaught: Ryan's Residential website
Chico Luxury Homes
Chico Investment Property

Ryan Vaught Real Estate
Keller Williams Chico CA
Office Phone: (530) 343-2959

·  Ryan's Current Listings
·  Chico MLS Search
·  Today's New Listings
·  For Sellers
·  About Ryan's Team
·  Why Ryan?
·  Commercial & Income Property

© Ryan Vaught Real Estate
RyanVaught.com | VaughtRealEstate.com | VaughtProperties.com | ChicoSolds.com | ChicoCondos.com | ChicoInvestmentProperty.com | ChicoHomesByRyan.com

Ryan's Properties For Sale   Page 1 of 4 Compare Favorites 000 Grubbs Rd, Oroville $2,600,000         Small acreage residential homesite development land located in Oroville. This parcel has 194 acres of rolling residential acreage currently zoned low density residential with ... More Information on 000 Grubbs Rd 2050 4th Street, Thermalito $795,000     6100 Sq. Ft.   Quality bank owned commercial property with a great location. Parcel is 1.39 acres. Potential uses of property include boat, RV or auto dealership, mechanic shop, tire shop an... More Information on 2050 4th Street 1454 Broadway St, Chico $550,000   4 Bedroom 4 Bath 3600 Sq. Ft.   Turn of the century historic Diamond Match Company Victorian home on the historic registry. Qualifies for historic tax reduction. The home is in near original condition with i... More Information on 1454 Broadway St 477 Southbury Lane, Chico $500,000   4 Bedroom 3 Bath 2806 Sq. Ft.   Welcome to your new spacious home with custom floor plan, loaded with extra features such as Italian tiles, walk-in pantry, cherry wood raised panel cabinetry, stainless steel... More Information on 477 Southbury Lane 408 Paseo Companeros, Chico $445,000   3 Bedroom 2 Bath 1806 Sq. Ft.   Beautifully Remodeled 3 bedroom 2 bath home on close to an acre in town! Spacious kitchen with granite countertops, stainless steel appliances, eating bar and adjacent built i... More Information on 408 Paseo Companeros 11767 Butte Creek Island Rd, Chico $419,000   3 Bedroom 2 Bath 1612 Sq. Ft.   Take a deep breath and enjoy every minute in this beautiful rural setting and fine home with acreage. This home is located about 15 minutes from Chico, just off of Honey Run R... More Information on 11767 Butte Creek Island Rd 60 Glenview Way, Oroville $399,000   3 Bedroom 2 Bath 1729 Sq. Ft.   Beautifully maintained home. There are great features including a newer roof, HVAC, granite counter tops, granite around the fireplace, and new paint. This home is in great co... More Information on 60 Glenview Way 1869 Rose River Ave, Chico $349,000   3 Bedroom 2.5 Bath 1994 Sq. Ft.   One of the best lots in heritage oaks! This home is facing beautiful natural landscape making it feel very private. A great location with easy access to trails leading to Bidw... More Information on 1869 Rose River Ave 1814 Feather Ave, Oroville $275,000   3 Bedroom 2 Bath 1622 Sq. Ft.   Pristine 3 bed 2 bath home on a corner lot. Owner spared no expense with amenities such as 16" Italian tile throughout the home, stainless steel kitchen appliances, custom pai... More Information on 1814 Feather Ave 3249 Myers Street, Oroville $260,000     2448 Sq. Ft.   Investors crunch your numbers. This property consists of a triplex and single family home. Gross rents are about $2000 per month. Home has a newer roof, appliances, water heat... More Information on 3249 Myers Street