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Hide Value Choice from the Affidavit Of No Lien

Hide Value Choice from the Affidavit Of No Lien

Aug 6th, 2022

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How to Hide Value Choice from the Affidavit Of No Lien

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Attorney Kenneth Stephens from Stephens Reed Armstrong PLLC discusses mechanics lien affidavits in Texas. He emphasizes that only charges for labor and materials can be included in a lien affidavit. Many people mistakenly include additional costs, such as attorney fees or collection agency fees, which are not permissible. The rules regarding what can be included in these affidavits are clear, and it's important for individuals to adhere to them when filing to avoid issues. Understanding these limitations is crucial for ensuring compliance when recovering costs through a mechanics lien.

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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 the downside of a lien?

In short, a tax lien has a lot of negatives. It affects your ability to sell your property and limits the effectiveness of bankruptcy relief. It also hurts your ability to get credit and through prospective employer credit checks can even harm your chances of getting a new job.

What is an example of a lien?

For instance, you borrow a loan from a bank to buy yourself a car. The price of the car will be paid by the loan amount. This gives the bank the legal right to grant lien on the car.

What is a lien in simple terms?

What Is a Lien? A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A creditor or a legal judgment could establish a lien. A lien serves to guarantee an underlying obligation, such as the repayment of a loan.

Is a lien the same as a loan?

A loan is money secured from a lending institution. A lien is when you owe money or services and legal action is taken against you.

What is a lien in finance?

A lien is a claim or legal right against assets that are usually used as collateral to satisfy a debt. The creditor may be able to seize the asset that is the subject of the lien. Bank, real estate, and tax are three types of liens.

How do I release a lien in Indiana?

Releasing a Lien The individual lienholder must sign off in the proper lien release section on the certificate of title; The vehicle owner must obtain a lien release letter; or. The vehicle owner must obtain a general Affidavit State Form 37964 that is signed by the individual lienholder.

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