A lien is a monetary claim that is levied against a property for unpaid charges. Typically, liens are levied against homes with unpaid property taxes, mortgage payments, or homeowners’ association assessments. A lien is filed against a property, as opposed to a person, and will remain in place until all debts associated with the lien are collected. A lien may make it difficult for an owner to sell or transfer a property because of the debt associated with the property.
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In a nutshell: Okay, so a lien is like the “Scarlet Letter” of the real estate world. If a lien is filed against a property, it tells the world, “Hey, I’ve been a bad little property and I owe some serious people some serious money.” But there’s good news – once the debt is paid, the lien can be removed. We’ve come a long way since the good ol’ colonial days, but still, I’d avoid having to deal with liens.