ANDERSEN PLLC Andersen PLLCAttorneys

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Is there a lien on the dream home you want to buy?

You have found your dream home and are anxiously awaiting the transfer of ownership. Unfortunately, the closing may experience a delay: The preliminary title report shows that there is a lien on the property.

Certain kinds of liens are very common. Others are sometimes years old and have been forgotten over time. Here are three common types of liens.

1. Mechanic’s lien

This type of lien is frequent when title companies perform a search on the property. A general contractor or other home improvement professional may file a lien before starting work as protection against lack of payment. Upon completion of the job, the contractor must file to release the lien or it will remain on the title.

2. Bankruptcy

While single, a seller may buy a new home, then marry someone who declared bankruptcy. The title company will want to be sure the new spouse signs off on the deed and has no more debt obligations through a bankruptcy discharge. Otherwise, a court petition is necessary to release the property.

3. Child or spousal support

A divorced spouse may have placed a lien on the home the ex would like to buy. The matter may have been about delayed child support or spousal maintenance payments, and though the couple resolved the debt years ago, the spouse forgot to remove the lien. A release of judgment would remedy this problem.

Gaining clear title

Title issues can be complex. In addition to the snafus liens bring about, the American Land Title Association has discovered an increase in fraud, such as a situation where one spouse forges the signature of the other spouse to transfer property. An attorney experienced with the buying and selling of residential properties, plus the matter of liens and other title concerns, can help you acquire your dream home with as few problems and delays as possible.

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ANDERSEN PLLC
17015 N. Scottsdale Road, Suite 225
Scottsdale, AZ 85255

Phone: 480-900-3539
Fax: 480-265-9101
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