Do you know what liens may exist on the For Sale By Owner or Foreclosure property you want to buy? A Property Lien Search by Title Search Florida, Inc. can give you the information you need about any liens that may exist on the property or individual in question. Our Title Lien Search reports are fast, inexpensive, and invaluable.
A lien, sometimes called a “security interest”, is a claim against specific property. Typically, the claim belongs to the person or the business that is owed a debt. This debt may or may not be related to the property. Our Property Lien Search reports identify any liens that may be placed on the property or individual in question, and the terms of that lien.
There are many different types of liens that may affect your interest in the property you are purchasing and/or mortgaging, including construction liens, state tax liens, federal tax liens, federal judgment liens, state judgment liens, and mortgages. Title Search Florida, Inc. Title lien search can identify which type of lien is placed on the property.
Our Title Lien Search reports will also indicate whether the lien is consensual, meaning a person owning property agreed to the placement of the lien against the property, or involuntary, meaning the lien was created either by a governmental entity or by a person authorized to create a lien by law.
As a practical matter, a lien does three things: First, it prevents the owner of the property from selling or otherwise transferring the property unless the lien is paid or otherwise addressed. Second, if the lien is not paid voluntarily, the lien enables the person claiming the lien to undertake foreclosure of the lien and sell the property to pay the lien claimant’s debt. Third, the lien established priorities among competing creditors who claim an interest in the property against which the lien has been claimed. A Property Lien Search will identify any existing liens so you are well-informed before you attempt to buy.