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Sign Affidavit Of No Lien

Sign Affidavit Of No Lien

Aug 6th, 2022

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How to Sign Affidavit Of No Lien

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34 votes

Dan Sweeney from Home Bin Discount Realty discusses liens in real estate. He explains that a lien is a claim on a property, with a mortgage being the most common example. A bank files a mortgage lien, asserting their claim until the loan is repaid, and can force the sale of the property if the borrower defaults. Other types of liens can arise, such as municipal liens for unpaid water bills. These liens can complicate property transfers, as buyers prefer properties free of such claims. Sweeney emphasizes the importance of ensuring that the property being purchased has no outstanding liens.

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