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Hide Alternative Choice in the Assignment Of Lien

Hide Alternative Choice in the Assignment Of Lien and eSign it in minutes

Aug 6th, 2022

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How to Hide Alternative Choice in the Assignment Of Lien

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hi my name is eric olson executive director of helps non-profit law firm um this brief video is going to address the question um can i sell a home and have a judgment removed uh without thats a lien on the home without having to file bankruptcy uh let me give the example um since we deal with seniors primarily um that are on social security lets say youre a senior your age is 65 youve got a property that you owe maybe 30 000 on and its worth 150 000 you have a property in another state where you want to move to and put a treader house on it um so the property where you live youve got a an equity in that property of what seventy 70 170 plus 50 would be 120 000 because youll deal 30 and its worth 150 um and the homestead exemption in the state in that state where you have your home is 150 000. therefore the amount of equity you have in that home 130 000 is less than what the homestead exemption is for that state um but someone sued you and they have a judgment against you lets s

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is a lien placed on the property without the consent of the owner known as?

Involuntary Lien: A lien imposed against property without consent of the owner. Taxes, special assessments, federal income tax liens, and State tax liens are examples of involuntary liens.

What liens take priority in Texas?

In Texas, the first in time, first in right rule applies to real property liens. This means that lien priority is generally determined by the order in which the liens are recorded in the public records of the county where the real property is located (World Help v. Leisure Lifestyles, Inc., 977 S.W. 2d 662, 668 (Tex.

What is a hidden lien?

Secret lien is a lien which does not appear of record or in any other manner so as to be noticed by purchasers and encumbrancers. It is a lien reserved by the vendor and kept hidden from third parties to secure the payment of goods after delivery.

Which type of lien takes priority over all other liens and has the first claim?

A first lien has a higher priority than other liens and gets first crack at the sale proceeds. If any sale proceeds are left after the first lien is paid in full, the excess proceeds go to the second lienlike a second-mortgage lender or judgment creditoruntil that lien is paid off, and so on.

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