IfIam trying to buy a house and there is a lien on it, how doI get the lien off?
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IfIam trying to buy a house and there is a lien on it, how doI get the lien off?
The title company has told us business that has the lien on it has gone out of business.
Asked on August 5, 2010 under Real Estate Law, Indiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
A lien is generally a judgement that is owed to someone by one of the parties who has title to the house. You need to file what is known as a "satisfaction" of the judgement indicating that the judgement has been paid. Generally the line will be paid at the time of the closing by the title company with the proceeds from the sale of the house The title company will also hold sufficient funds in escrow in order to "satisfy" the lien. You situation is a tough one if the business is defunct. But the title company may be able to help you and the sellers out. It is really the responsibility of the sellers here but I can understand that you want the house and are anxious about the lien. Speak with your attorney as well on the best way to resolve this. Good luck.
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