With a mortgage, the mortgagor borrower gets a certain amount of money, while the mortgagee lender gets the note and a lien on the house. The lien thereby gives the lender collateral for the debt. Involuntary liens are placed on the property by others for unpaid obligations. The most obvious example of this is a tax lien.
They do this by first placing a tax lien on the property and then foreclosing. Every county is different, but the process is generally similar.
In a similar vein, if there are unpaid income taxes, the IRS can place a federal tax lien on your property. And if a bank forecloses on a house, that tax lien stays with it. But if there is a frivolous lien placed on your house, you will probably need to go to mediation or even litigation to have it removed.
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This can be a time-consuming process, especially if you are trying to sell a property. And remember, when a property is sold, all liens get paid off before any proceeds go to the seller. Other potential liens could be for unpaid utilities, HOA dues, child support payments, etc. There are three ways to do a property lien search:.
- Recorder of deeds.
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And some smaller and more rural counties might not have everything online yet. This is why it helps to go through title companies.
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If you try to find the liens yourself and miss one, you could be in a for a huge bill. Some liens amount to tens of thousands of dollars. Furthermore, title companies will always run title searches when a property is under contract to be sold. At closing, you will pay for title insurance, which means that if the title company misses a lien, the title company is responsible for paying that lien, not you.
Most other insurance policies protect you against something what might happen in the future. The title insurance, on the other hand, protects you against something in the past that has already happened and had nothing to do with you.
Register of Deeds / Archives | Shelby County, TN - Official Website
Never buy a property with just a quitclaim deed which simply transfers title along with any liens attached or without a title company or attorney, as you might get stuck with a huge lien that will ruin any profit margin you were hoping for. How to remove a lien. The easiest way to remove a lien is simply to pay it. First time searching? Are you in the right place? How to search for recorded documents Our Landmark Records Search system allows you to search by name, document type, book and page number, consideration selling price , parcel ID, recording date, recording number, legal description, or Torrens.
Click the green "Start Search" button. Click the icon for the type of search you want. Search by Name : Enter last name comma first name, "Doe, John". Searching by parcel ID will only pull up recorded documents from to current. Tutorial video To search for surveys, plats, and condos, select the Legal search: After selecting the "legal" option from the Home search page, on the following screen click " Advanced Legal " on the left-side menu.
What Is a Property Lien?
Tutorial video To view the data and image of a document from your search results, click on the document line item of your choice. This will bring up the document details along with the image. Monday - Friday a. Recording ends at p.
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