Arrowhead Title, Inc.

Are you curious about property liens and how they can affect you?  Let Arrowhead Title help answers some common questions in regards to property liens.  Property liens are fairly standard in the real estate business, so as a homeowner, or potential homeowner at the Lake of the Ozarks, this is an important factor that you should consider when purchasing a home.   In today’s blog, your Lake of the Ozarks title company will explain what a property lien is and how having a lien on your property can affect you as a homeowner. What is a Property Lien? A property lien is a claim on a residential property for the homeowner’s unpaid bills.  In other terms, it is a publicly recorded notification that a creditor claims the homeowner owes the creditor money for unpaid debt.  Before you can sell your home, you must pay off this debt or lien on your property. What are Some Types of Property Liens? There are several different types of liens that can af...

A property lien is a claim on a residential property for the homeowner's unpaid bills. When a lien is placed on a home's title, it means that the owner cannot legally sell, refinance or otherwise transfer a clear title of ownership to the home. In today's blog, your Lake of the Ozarks title company explains the implications of having a lien on your property. Types of Property Liens There are multiple types of liens that can affect your right to ownership of your home. A "mechanic's" or "construction" lien protects the provider of services whose charges to the owner for repairs, improvements or maintenance have gone unpaid. A lien on the property also exists when a mortgage loan is used to purchase the home. In exchange for use of the money needed to purchase the home, the lender has a legal claim on the property. A tax lien may be filed against the property by the Internal Revenue Service for unpaid federal taxes. The IRS and the county tax...

It's that time of year again! 'Tis the season for holiday gatherings, Christmas shopping, and - unfortunately - property taxes.  Most people have already received their 2016 property tax statements. While it's safe to assume that no one looks forward to paying their property taxes, keeping up with these payments is absolutely essential. Arrowhead Title, Inc. is here to help you understand your property taxes and what happens if you fail to pay them. What Is Personal Property Tax? Personal property tax is a tax that is levied against tangible property that you owned at some point during the tax year. Examples of tangible property include houses,  land, additional properties, boats, waverunners, cars, trucks, RVs, and motorcycles. Exactly where and how your tax dollars will be used may vary slightly by state and county, but generally recipients may include: Local road districts The local library The State The County The local fire district The local schools ...

We spend a lot of time discussing how title insurance is your first defense against complications with your future home, such as unknown liens against the property. This week, we wanted to take a closer look at some examples of these types of liens and the impact they can have on your property. The Basics of Property Liens Essentially, a lien is a claim against your property stating that you owe a certain creditor money for an unpaid debt. By placing the lien, the creditor secures the property as collateral against the debt. If the debt ultimately remains unpaid, the creditor may seize the property as a way of repaying the loan. Different Types of Property Liens Some liens are voluntary; the property owners knowingly and willingly place the lien on their home in order to take out a loan. This is commonly used when homeowners take out second mortgages in order to fund home improvements, debt consolidation, or a child's college education.  Most types of property ...