Liens Release Forms

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Commonly Asked Questions about Liens Release Forms

What is a letter of lien?

The term lien refers to a legal claim or legal right which is made against the assets that are held as collaterals for satisfying a debt. A lien can be established by a creditor or a legal judgement. The purpose of the lien is to guarantee an underlying obligation such as the repayment of the loan.

How much does it cost to remove a lien on a property in Ontario?

The initiating party must place money into court that is equal to the value of the lien** + costs (typically 10-15% of the value of the lien**). In exchange for the monies being held in court, the lien will then be removed.

Can someone put a lien on my house without me knowing Canada?

Absolutely. The CRA possesses vast collection power for unpaid taxes, one of which is attaching a lien on your assets, including your house. The CRA may not notify you of the impending lien and can take action to register it very quickly.

How do I remove a lien from my property in Canada?

Most liens can be stopped or cancelled through party-to-party negotiations through legal representatives, but provincial Supreme and Superior Courts in Canada are often asked to step in, to both declare the claims validly and to discharge them upon payment into court.

How long does a lien stay on your property in Canada?

In Ontario, liens are only valid for 90 days from the date of last on site working. If your customer refuses to pay within the first 30-60 days, legal action or collections may be an additional action you want to take to help enforce your lien.

Can you sell a house with a lien on it in Canada?

Can you sell a house with a lien on it in Canada? Once a lien has been placed on a home, that house cannot be sold until the lien has been dealt with. If you are attempting to sell your house and then discover the lien, you will have to find a way to settle the debt with the creditor before the sale can be completed.

How to get a lien release in Ontario?

To clear the lien, the vehicle owner must first pay off the money owed on the car. The lender will provide a document stating that the lien has been discharged. Then, the record must be changed by the provincial body that governs transportation in your province give them a call and theyll walk you through the steps.

How to discharge a lien in Ontario?

If a party wishes to discharge a lien, there must be clear and equivocal evidence that the claim for lien is frivolous, vexatious, or otherwise an abuse of process.