subject: Search Lien Records [print this page] Search Lien Records Search Lien Records
A lien is a legal claim or a "hold" on some type of property, no matter if personal real property or making it security against monies or services owed to a different person or entity. A lien ordinarily exists in situations just like second mortgages, loans against a vehicle title, or money loaned against any other substantial item owned by a borrower. It may keep the borrower from selling the property, or at least keep him or her from shifting title to the property.
The importance of search lien records When buying real estate, it is important to be certain there is no lien on the property that will keep you from obtaining a clear title. If the real estate you are going to purchase, who knows the ownership of the real estate goes to which one.
Whenever somebody owe you a sum of money, but he or she give you an equivalent object as guarantee. It is necessary to find out the object has lien on it or not, make sure you can get your money back. Lien records search will generally indicate whether or not a lien exists and whether the seller is the legally recognized property owner. It should also indicate the exact legal description of the property, together with providing details regarding a lien or other encumbrances against the title.
This is especially important if you are using creative financing techniques to purchase the property, just like owner financing or a land contract. Otherwise, once you have paid the agreed upon price, you may find out that you still do not own the property free and clear.
Click my blog to read free report which will teach you how to search lien records in order to protect your ownership of property.
