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...

Although liens are common in the real estate world, they're often overlooked by home-buyers because they don't understand the implications that can arise from such things on a deed. Unfortunately, the failure to anticipate and settle outstanding liens before closing can lead to delayed or derailed deals. Worse, undiscovered liens can cause years of legal problems after a sale. What is a Lien? A lien is a right to keep possession of property belonging to another person until a debt owed by that person is discharged. Liens on real estate are a common way for creditors to secure debts that are owed to them. A property lien is a notice attached to your title informing everyone that you owe money. In today's blog, your Lake of the Ozarks title company explains the implications of having a lien on your property. Selling Your Property When you have a lien on your home, you are not able to sell it. In order to sell or refinance your home, you must have a clear title. Hav...

Liens on real estate are a common way for creditors to secure debts that are owed to them. A property lien is a notice attached to your title informing everyone that you owe money. In today's blog, your Lake of the Ozarks title company explains the implications of having a lien on your property. Selling Your Property  When you have a lien on your home, you are not able to sell it. In order to sell or refinance your home, you must have a clear title. Having that lien on your title makes it unclear. To get rid of the lien, you'll need to pay the creditor what you owe. After that, the lien will be removed from the title and you'll be able to sell or refinance your home if you wish. Foreclosing On Your Home  While a foreclosure due to a lien is rare, there is the possibility. In order to pay off the lien, creditors generally have the right to have the property sold, usually through foreclosure. In most cases however, the mortgage is placed on the home before ...