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SHORT SALES: TYPES OF LIENS

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Education & Training with Florida Luxury Homes Inc.
TYPES OF LIENS:

 

 

When a Lis Pendens is filed, other lien holders are listed as defendants. This includes other mortgage holders, Homeowners Associations and judgment holders.

 

Below are the most common types of liens found upon reviewing courthouse records:

 

1.    JUDGMENT - The decision of a court of law that allows a judgment to become a lien against the individual(s) being sued.

 

2.    CERTIFIED FINAL JUDGMENT - A judgment completely deciding all pending matters before a court, thus ending the need for further litigation. A money judgment when certified and recorded can become a lien on real property owned by the individual(s) being sued.

 

3.    TAX LIEN - (1) A lien for non-payment of property taxes. Attaches only to the property upon which taxes are unpaid.

(2) A federal income tax lien may attach to all property of the          individual owing the taxes.

 

4.    LIEN - An encumbrance against the property for money, either voluntary or involuntary. All liens are encumbrances, but all encumbrances are not liens.

 

5.    LIS PENDENS - A legal notice recorded to show pending litigation relating to real property stating that anyone acquiring an interest in said property, subsequent to the date of the notice, may be bound by the outcome of the litigation.

 

 

6.    MORTGAGE - An instrument pledging real property as security for the repayment of a loan.

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Chrissi Zaccheo
RealtyOneGroup Engage - Jensen Beach, FL
These are nice to know --- Thank you
Jan 20, 2008 11:32 AM